§ 42-64.9-4 Definitions and construction.– As used in this chapter, unless the context otherwise requires, the term:
(1) "Certifiable building" means a mill complex or a building:
(i) That was constructed prior to January 1, 1950;
(ii) Having at least two (2) floors, excluding a basement;
(iii) Which is or will be used primarily for manufacturing,wholesale trade and other commercial purposes;
(iv) The use of which conforms to the comprehensive plan andlocal land use management ordinances of the municipality in which the buildingis located;
(v) That is proposed for substantial rehabilitation;
(vi) That has been at a minimum seventy-five percent (75%)vacant for a minimum of twenty-four (24) months at the time of submission bythe municipality;
(vii) That is designated by the municipality forconsideration as a certifiable building as hereinafter provided;
(viii) Meets other requirements as established by thecouncil; and
(ix) Designated by the enterprise zone council as a certifiedbuilding pursuant to the requirements of § 42-64.9-5.
(2) "Certification of an eligible business" means an annualprocess taking place on a calendar year basis to certify entities as eligiblebusinesses for the purpose of this chapter. Businesses certified as eligiblebusinesses for the purpose of this chapter, and which may also be eligible forcertification as certified businesses under the provisions of §42-64.3-3(4) must elect certification under only one designation of eachcertification year. This election must be made for each certification year;provided, that the business continues to be eligible for both designations on ayear-to-year basis.
(3) "Certified building" means a building with respect towhich the council has issued a written notice of final designation as acertified building pursuant to the provisions of § 42-64.9-6. A portion ofa building may be treated as a separate building for purposes of this chapterif:
(i) It consists of a clearly identifiable part of acertifiable building, including, without limitation, one or more wings,stories, or other separable portions of a certifiable building;
(ii) It is held by a single owner, whether in fee or as acondominium, cooperative or leasehold interest; and
(iii) At least one eligible business reasonably could beoperated within the confines of this portion.
(4) "Certified building owner" means an individual,partnership, corporation, limited liability company or other entity which islisted in the appropriate municipal records of land evidence as the owner of acertified building, and may include one or more successors in title to theowner of the building at the time the building received written notice of finaldesignation as a certified building pursuant to § 42-64.9-6. A certifiedbuilding owner may include the owner of a leasehold interest with a minimumterm of fifty (50) years, with respect to which a memorandum of lease has beenrecorded in the land evidence records.
(5) "Eligible business" means any business, corporation, soleproprietorship, partnership, limited partnership or limited liability companyor other entity which:
(i) Is located in a certified building after the building hasundergone substantial rehabilitation as hereinafter defined;
(ii) Is engaged principally in manufacturing, wholesaletrade, or other commercial business activities;
(iii) Whose total Rhode Island salaries and wages exceed thetotal Rhode Island salaries and wages paid to its employees in the priorcalendar year;
(iv) Has received certification from the enterprise zonecouncil pursuant to the rules and regulations promulgated by the council; and
(v) Which, as part of its annual certification:
(A) Obtains certificates of good standing from the RhodeIsland division of taxation, the corporations division of the Rhode Islandsecretary of state, and the appropriate municipal authority;
(B) Provides the enterprise zone council an affidavit statingunder oath that the entity seeking certification as a qualified business hasnot within the preceding twelve (12) months from the date of application forcertification changed its legal status or location solely for the purpose ofgaining favorable treatment under the provision of this chapter; and
(C) Meets certain other requirements set forth by the council.
(6) "Enterprise zone" means an enterprise zone establishedpursuant to § 42-64.3-4.
(7) "Enterprise zone council" or the "council" means theenterprise zone council established pursuant to § 42-64.3-3.1, andempowered with the same authority and given the same responsibilities underthat section.
(8) "Mill complex" means two (2) or more mill buildings,located on the same or contiguous parcels of land, each of which, at one time,had the same owner(s).
(9) "Municipality" means any city or town within the state,whether now existing or hereafter created.
(10) "Qualified employee" means a full-time employee of aneligible business whose business activity originates and terminates from withinthe eligible business and certified building on a daily basis, and who isemployed by the eligible business at the end of the calendar year, and who is adomiciled resident of the state of Rhode Island.
(11) "Rehabilitation and reconstruction costs" means andincludes only those amounts incurred and paid by the certified building owner,after issuance of the notice of final designation of the building, solely andexclusively for the rehabilitation of the certified building and which areincurred and paid by the certified building owner to acquire tangible personalproperty and structural components of the certified building which:
(i) Are depreciated pursuant to 26 U.S.C. § 167;
(ii) Have a useful life of three (3) years or more asevidenced by the tax depreciation method taken and shown on the federal taxreturn of the certified building owner; and
(iii) Are acquired by purchase as defined in 26 U.S.C. §179(d). Rehabilitation and reconstruction costs do not include amounts incurredor paid with respect to tangible personal property and structural components ofthe certified building which the certified building owner leases from any otherperson or corporation. For the purposes of the preceding sentence, any contractor agreement to lease or rent or for a license to use the property shall beconsidered a lease unless the contract or agreement is treated for the federalincome tax purposes of the certified building owner as an installment purchaserather than a lease.
(12) "Salaries and wages" means salaries, wages, tips andother compensation as defined in the Internal Revenue Code of 1986, 26 U.S.C.§ 61.
(13) "Substantial rehabilitation" means rehabilitation orreconstruction costs of a certified building in a dollar amount that equals orexceeds twenty percent (20%) of the market value of the certified buildingprior to rehabilitation or reconstruction, as said prior market value isdetermined by a Rhode Island licensed and certified appraiser who isindependent of the certified building owner or owners and their affiliatedcorporations, and/or any tenants of the certified building and their affiliatedcorporations.
§ 42-64.9-4 Definitions and construction.– As used in this chapter, unless the context otherwise requires, the term:
(1) "Certifiable building" means a mill complex or a building:
(i) That was constructed prior to January 1, 1950;
(ii) Having at least two (2) floors, excluding a basement;
(iii) Which is or will be used primarily for manufacturing,wholesale trade and other commercial purposes;
(iv) The use of which conforms to the comprehensive plan andlocal land use management ordinances of the municipality in which the buildingis located;
(v) That is proposed for substantial rehabilitation;
(vi) That has been at a minimum seventy-five percent (75%)vacant for a minimum of twenty-four (24) months at the time of submission bythe municipality;
(vii) That is designated by the municipality forconsideration as a certifiable building as hereinafter provided;
(viii) Meets other requirements as established by thecouncil; and
(ix) Designated by the enterprise zone council as a certifiedbuilding pursuant to the requirements of § 42-64.9-5.
(2) "Certification of an eligible business" means an annualprocess taking place on a calendar year basis to certify entities as eligiblebusinesses for the purpose of this chapter. Businesses certified as eligiblebusinesses for the purpose of this chapter, and which may also be eligible forcertification as certified businesses under the provisions of §42-64.3-3(4) must elect certification under only one designation of eachcertification year. This election must be made for each certification year;provided, that the business continues to be eligible for both designations on ayear-to-year basis.
(3) "Certified building" means a building with respect towhich the council has issued a written notice of final designation as acertified building pursuant to the provisions of § 42-64.9-6. A portion ofa building may be treated as a separate building for purposes of this chapterif:
(i) It consists of a clearly identifiable part of acertifiable building, including, without limitation, one or more wings,stories, or other separable portions of a certifiable building;
(ii) It is held by a single owner, whether in fee or as acondominium, cooperative or leasehold interest; and
(iii) At least one eligible business reasonably could beoperated within the confines of this portion.
(4) "Certified building owner" means an individual,partnership, corporation, limited liability company or other entity which islisted in the appropriate municipal records of land evidence as the owner of acertified building, and may include one or more successors in title to theowner of the building at the time the building received written notice of finaldesignation as a certified building pursuant to § 42-64.9-6. A certifiedbuilding owner may include the owner of a leasehold interest with a minimumterm of fifty (50) years, with respect to which a memorandum of lease has beenrecorded in the land evidence records.
(5) "Eligible business" means any business, corporation, soleproprietorship, partnership, limited partnership or limited liability companyor other entity which:
(i) Is located in a certified building after the building hasundergone substantial rehabilitation as hereinafter defined;
(ii) Is engaged principally in manufacturing, wholesaletrade, or other commercial business activities;
(iii) Whose total Rhode Island salaries and wages exceed thetotal Rhode Island salaries and wages paid to its employees in the priorcalendar year;
(iv) Has received certification from the enterprise zonecouncil pursuant to the rules and regulations promulgated by the council; and
(v) Which, as part of its annual certification:
(A) Obtains certificates of good standing from the RhodeIsland division of taxation, the corporations division of the Rhode Islandsecretary of state, and the appropriate municipal authority;
(B) Provides the enterprise zone council an affidavit statingunder oath that the entity seeking certification as a qualified business hasnot within the preceding twelve (12) months from the date of application forcertification changed its legal status or location solely for the purpose ofgaining favorable treatment under the provision of this chapter; and
(C) Meets certain other requirements set forth by the council.
(6) "Enterprise zone" means an enterprise zone establishedpursuant to § 42-64.3-4.
(7) "Enterprise zone council" or the "council" means theenterprise zone council established pursuant to § 42-64.3-3.1, andempowered with the same authority and given the same responsibilities underthat section.
(8) "Mill complex" means two (2) or more mill buildings,located on the same or contiguous parcels of land, each of which, at one time,had the same owner(s).
(9) "Municipality" means any city or town within the state,whether now existing or hereafter created.
(10) "Qualified employee" means a full-time employee of aneligible business whose business activity originates and terminates from withinthe eligible business and certified building on a daily basis, and who isemployed by the eligible business at the end of the calendar year, and who is adomiciled resident of the state of Rhode Island.
(11) "Rehabilitation and reconstruction costs" means andincludes only those amounts incurred and paid by the certified building owner,after issuance of the notice of final designation of the building, solely andexclusively for the rehabilitation of the certified building and which areincurred and paid by the certified building owner to acquire tangible personalproperty and structural components of the certified building which:
(i) Are depreciated pursuant to 26 U.S.C. § 167;
(ii) Have a useful life of three (3) years or more asevidenced by the tax depreciation method taken and shown on the federal taxreturn of the certified building owner; and
(iii) Are acquired by purchase as defined in 26 U.S.C. §179(d). Rehabilitation and reconstruction costs do not include amounts incurredor paid with respect to tangible personal property and structural components ofthe certified building which the certified building owner leases from any otherperson or corporation. For the purposes of the preceding sentence, any contractor agreement to lease or rent or for a license to use the property shall beconsidered a lease unless the contract or agreement is treated for the federalincome tax purposes of the certified building owner as an installment purchaserather than a lease.
(12) "Salaries and wages" means salaries, wages, tips andother compensation as defined in the Internal Revenue Code of 1986, 26 U.S.C.§ 61.
(13) "Substantial rehabilitation" means rehabilitation orreconstruction costs of a certified building in a dollar amount that equals orexceeds twenty percent (20%) of the market value of the certified buildingprior to rehabilitation or reconstruction, as said prior market value isdetermined by a Rhode Island licensed and certified appraiser who isindependent of the certified building owner or owners and their affiliatedcorporations, and/or any tenants of the certified building and their affiliatedcorporations.
§ 42-64.9-4 Definitions and construction.– As used in this chapter, unless the context otherwise requires, the term:
(1) "Certifiable building" means a mill complex or a building:
(i) That was constructed prior to January 1, 1950;
(ii) Having at least two (2) floors, excluding a basement;
(iii) Which is or will be used primarily for manufacturing,wholesale trade and other commercial purposes;
(iv) The use of which conforms to the comprehensive plan andlocal land use management ordinances of the municipality in which the buildingis located;
(v) That is proposed for substantial rehabilitation;
(vi) That has been at a minimum seventy-five percent (75%)vacant for a minimum of twenty-four (24) months at the time of submission bythe municipality;
(vii) That is designated by the municipality forconsideration as a certifiable building as hereinafter provided;
(viii) Meets other requirements as established by thecouncil; and
(ix) Designated by the enterprise zone council as a certifiedbuilding pursuant to the requirements of § 42-64.9-5.
(2) "Certification of an eligible business" means an annualprocess taking place on a calendar year basis to certify entities as eligiblebusinesses for the purpose of this chapter. Businesses certified as eligiblebusinesses for the purpose of this chapter, and which may also be eligible forcertification as certified businesses under the provisions of §42-64.3-3(4) must elect certification under only one designation of eachcertification year. This election must be made for each certification year;provided, that the business continues to be eligible for both designations on ayear-to-year basis.
(3) "Certified building" means a building with respect towhich the council has issued a written notice of final designation as acertified building pursuant to the provisions of § 42-64.9-6. A portion ofa building may be treated as a separate building for purposes of this chapterif:
(i) It consists of a clearly identifiable part of acertifiable building, including, without limitation, one or more wings,stories, or other separable portions of a certifiable building;
(ii) It is held by a single owner, whether in fee or as acondominium, cooperative or leasehold interest; and
(iii) At least one eligible business reasonably could beoperated within the confines of this portion.
(4) "Certified building owner" means an individual,partnership, corporation, limited liability company or other entity which islisted in the appropriate municipal records of land evidence as the owner of acertified building, and may include one or more successors in title to theowner of the building at the time the building received written notice of finaldesignation as a certified building pursuant to § 42-64.9-6. A certifiedbuilding owner may include the owner of a leasehold interest with a minimumterm of fifty (50) years, with respect to which a memorandum of lease has beenrecorded in the land evidence records.
(5) "Eligible business" means any business, corporation, soleproprietorship, partnership, limited partnership or limited liability companyor other entity which:
(i) Is located in a certified building after the building hasundergone substantial rehabilitation as hereinafter defined;
(ii) Is engaged principally in manufacturing, wholesaletrade, or other commercial business activities;
(iii) Whose total Rhode Island salaries and wages exceed thetotal Rhode Island salaries and wages paid to its employees in the priorcalendar year;
(iv) Has received certification from the enterprise zonecouncil pursuant to the rules and regulations promulgated by the council; and
(v) Which, as part of its annual certification:
(A) Obtains certificates of good standing from the RhodeIsland division of taxation, the corporations division of the Rhode Islandsecretary of state, and the appropriate municipal authority;
(B) Provides the enterprise zone council an affidavit statingunder oath that the entity seeking certification as a qualified business hasnot within the preceding twelve (12) months from the date of application forcertification changed its legal status or location solely for the purpose ofgaining favorable treatment under the provision of this chapter; and
(C) Meets certain other requirements set forth by the council.
(6) "Enterprise zone" means an enterprise zone establishedpursuant to § 42-64.3-4.
(7) "Enterprise zone council" or the "council" means theenterprise zone council established pursuant to § 42-64.3-3.1, andempowered with the same authority and given the same responsibilities underthat section.
(8) "Mill complex" means two (2) or more mill buildings,located on the same or contiguous parcels of land, each of which, at one time,had the same owner(s).
(9) "Municipality" means any city or town within the state,whether now existing or hereafter created.
(10) "Qualified employee" means a full-time employee of aneligible business whose business activity originates and terminates from withinthe eligible business and certified building on a daily basis, and who isemployed by the eligible business at the end of the calendar year, and who is adomiciled resident of the state of Rhode Island.
(11) "Rehabilitation and reconstruction costs" means andincludes only those amounts incurred and paid by the certified building owner,after issuance of the notice of final designation of the building, solely andexclusively for the rehabilitation of the certified building and which areincurred and paid by the certified building owner to acquire tangible personalproperty and structural components of the certified building which:
(i) Are depreciated pursuant to 26 U.S.C. § 167;
(ii) Have a useful life of three (3) years or more asevidenced by the tax depreciation method taken and shown on the federal taxreturn of the certified building owner; and
(iii) Are acquired by purchase as defined in 26 U.S.C. §179(d). Rehabilitation and reconstruction costs do not include amounts incurredor paid with respect to tangible personal property and structural components ofthe certified building which the certified building owner leases from any otherperson or corporation. For the purposes of the preceding sentence, any contractor agreement to lease or rent or for a license to use the property shall beconsidered a lease unless the contract or agreement is treated for the federalincome tax purposes of the certified building owner as an installment purchaserather than a lease.
(12) "Salaries and wages" means salaries, wages, tips andother compensation as defined in the Internal Revenue Code of 1986, 26 U.S.C.§ 61.
(13) "Substantial rehabilitation" means rehabilitation orreconstruction costs of a certified building in a dollar amount that equals orexceeds twenty percent (20%) of the market value of the certified buildingprior to rehabilitation or reconstruction, as said prior market value isdetermined by a Rhode Island licensed and certified appraiser who isindependent of the certified building owner or owners and their affiliatedcorporations, and/or any tenants of the certified building and their affiliatedcorporations.
