As used in this act: (1) 'Commerce corporation' means the Rhode Island commerce corporation established pursuant to § 42-64-1 et seq. (2) 'Eligibility period' means the period in which a Rhode Island business may claim a tax credit under this act, beginning with the tax period in which the commerce corporation accepts certification by the Rhode Island business that it has played a substantial role in the decision of a qualified business to relocate to Rhode Island and extending thereafter for a term of five (5) years. (3) 'Hope community' means a municipality for which the five-year (5) average percentage of families with income below the federal poverty level exceeds the state five-year (5) average percentage, both most recently reported by the U.S. Department of Commerce, Bureau of the Census. (4) 'Qualified business' means an entity that supplies goods or services to a Rhode Island business or is a material service provider or a material customer of a Rhode Island business, or is an affiliate of such supplier, service provider or customer. (5) 'Qualifying relocation' means a qualified business with the minimum number of employees as set forth in § Rhode Island business, or is an affiliate of such supplier, service provider or customer. (5) 'Qualifying relocation' means a qualified business with the minimum number of employees as set forth in § 42-64.30-5(a)(1) and (2), which moves an existing facility to the state of Rhode Island or constructs a new facility to supply goods or services to a Rhode Island business. (6) 'Rhode Island business' means a business enterprise physically located in, and authorized to do business in, the state of Rhode Island. (7) 'Taking possession' means executing a lease, acquiring title, or otherwise committing to occupy as defined by the commerce corporation. History of Section.P.L. 2015, ch. 141, art. 19, § 13.
Rhode Island Legal Code