Rhode Island Code of Regulations › Title 870 - Rhode Island Commerce Corporation › Chapter 30 - Tax Credits and Exemptions › Subchapter 00 - N/A › Part 4 - Rules and Regulations for the Rhode Island Qualified Jobs Incentive Act of 2015 › Section 870-RICR-30-00-4.9 - Application

Current through June 14, 2024
A. The Application promulgated by the
							Corporation shall require submission of the following information from each
							Applicant:
1. The name and address of the
							Applicant and contact information for the individual(s) primarily responsible
							for oversight and management of the Application.
2. The federal and state tax identification
							numbers for the Applicant;
3. The
							total number of Full-Time Employees in the State as of the date of the
							Application, as well as the average monthly total number of Full-Time Employees
							in the State for the preceding 12 months for the Applicant and any Related
							Companies;
4. A brief description
							of any existing operations and locations of the Applicant and any Related
							Companies in the State;
5. Job
							creation information, including information on all Affiliates contributing
							Full-Time Employees for purposes of the Application, which shall include the
							following:
a. the address(es) of the
							location(s) of the New Full-Time Jobs, along with documentary evidence of
							existing or anticipated control over such location(s), such as proof of
							ownership, a purchase and sale agreement, a lease, or a letter of
							intent;
b. a description of any
							actual or likely future federal procurement that will result in the hiring of
							Full-Time Employees;
c. a detailed
							description of the number of New Full-Time Jobs to be created unrelated to any
							federal procurement and the occupations of and compensation for the New
							Full-Time Jobs to be created, and a schedule of anticipated starting dates of
							new hires;
d. a detailed
							description of the number of New Full-Time Jobs to be created related to any
							federal procurement and the occupations of and compensation for the New
							Full-Time Jobs to be created, and a schedule of anticipated starting dates of
							new hires;
e. the employer
							identification or social security numbers for all Related Companies of the
							Applicant that employ persons in this State, and a clear and detailed
							presentation of the operations of those Related Companies to assure the
							Corporation that the New Full-Time Jobs are not being transferred from a
							Related Company within the State;
f. evidence demonstrating that without a Tax
							Credit the creation of the New Full-Time Jobs would not occur in this State,
							which may include, but is not limited to:
(1)
							a financial analysis, supported by appropriate documentation, showing that the
							receipt of the Tax Credit under the Act is necessary to make the creation of
							the New Full-Time Jobs feasible in this State, such as financial analysis using
							best available data showing that, without the credit provided under the Act, it
							is not feasible for the Applicant to create the New Full-Time Jobs in this
							State or it is economically more beneficial for the Applicant to create the New
							Full-Time Jobs out of State; such analysis shall take into account the
							transaction costs of relocating to or from another state;
(2) evidence that the Applicant could
							reasonably and efficiently locate outside of the State, which may, for example,
							include a proposed lease, proposed purchase and sale agreement, a real estate
							term sheet, prospective offer or offer letter, a term sheet concerning an out
							of state facility, or an incentive letter or incentive term sheet from another
							state.
g. a delineation
							of any other State or municipal incentives, grants, tax credits, or other aid
							that will or may be received or requested by the Applicant in relation to
							creation of the New Full-Time Jobs, including, but not limited to, in relation
							to the construction, acquisition, lease, or investment in property that
							facilitates the creation of the New Full-Time Jobs;
h. if the Applicant seeks an increase in the
							Tax Credit amount on the basis of a Capital Investment pursuant to §
												4.13(A)(1)(h)    of this Part, a detailed description of the Capital Investment the Applicant
							will make including the estimated amount of such investment supported by
							documentary evidence, and the location(s) at which such investment will be
							made; and
i. any other necessary
							and relevant information as determined by the Corporation.
6. A certification from the Applicant's chief
							executive officer, or equivalent officer, attesting under oath:
a. That any projected creation of New
							Full-Time Jobs would not occur, or would not occur in the State, but for the
							provision of Tax Credits under the Act;
b. The Applicant will create New Full-Time
							Jobs in an amount equal to or greater than the anticipated number of New
							Full-Time Jobs set forth in the Application; and
c. That the attesting officer has reviewed
							the information submitted to the Corporation and that the representations
							contained therein are accurate and complete.
7. A signed authorization allowing the Tax
							Division and the Corporation to share information and to permit the Rhode
							Island Department of Labor and Training to share information with the
							Corporation, executed by a person with authority to act on the Applicant's
							behalf in this regard. Any records, data or information made available or
							received by the Corporation and/or the Tax Division from any non-public source
							related to the creation of the New Full-Time Jobs or the Applicant shall be
							kept in confidence and protected from disclosure to the extent permissible
							under the Access to Public Records Act, R.I. Gen. Laws Chapter 38-2, unless the
							Applicant otherwise consents.