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2013 -- S 0942 | |
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LC02391 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2013 | |
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A N A C T | |
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RELATING TO TAXATION | |
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Introduced By: Senator Daniel DaPonte | |
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Date Introduced: May 16, 2013 | |
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Referred To: Senate Finance | |
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It is enacted by the General Assembly as follows: | |
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SECTION 1. Title 44 of the General Laws entitled "TAXATION" is hereby amended by |
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adding thereto the following chapter: |
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CHAPTER 68 |
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REGULATION OF SALE OF TAX CREDITS |
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44-68-1. Regulation of sale of tax credits. – (a) Notwithstanding any provision of the |
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general or public laws, prior to the sale or brokering of any tax credit issued by, or on behalf of |
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the state, the seller and broker of the tax credit shall furnish to the tax administrator a certified |
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statement, developed by the tax administrator and containing information that the tax |
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administrator may require, including, without limitation, all persons, brokers, entities and |
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professionals receiving compensation in connection with the sale or brokerage of the tax credit. In |
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connection with the foregoing, the tax administrator may examine any documentation bearing |
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upon the matters required to be included in the certification, and may require the attendance of |
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the person executing the certified statement and examine the person under oath respecting any |
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matter which the tax administrator deems pertinent or material in determining the accuracy of the |
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certified statement. |
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(b) All of the information provided in subsection (a) shall be publicly disclosed in a form |
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determined by the tax administer on an annual basis. |
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SECTION 2. This act shall take effect upon passage. |
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LC02391 | |
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EXPLANATION | |
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BY THE LEGISLATIVE COUNCIL | |
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OF | |
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A N A C T | |
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RELATING TO TAXATION | |
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This act would regulate and impose certain disclosure requirements upon the sale or |
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brokering of tax credits issued by or on behalf of the state. |
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This act would take effect upon passage. |
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LC02391 | |
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