TITLE 44
Taxation

CHAPTER 44-33.6
Historic Preservation Tax Credits 2013

SECTION 44-33.6-1


§ 44-33.6-1. Declaration of purpose.

The general assembly finds and declares that Rhode Island's historic structures continue to experience high vacancy rates and physical deterioration, particularly in Rhode Island's central business districts. Without adding economic incentive, these structures are not viable for the redevelopment and reuse by modern commercial, residential or manufacturing enterprises and will continue their physical deterioration. The redevelopment and reuse of these historic structures are of critical importance to the economic measures and will assist in stimulating the reuse and redevelopment of historic structures and will improve property values, foster civic beauty, create employment opportunities, enhance commerce, and promote public education, pleasure, and welfare. Furthermore, during this unprecedented economic climate, many in the building and construction trades, and related service industries, have been severely impacted. The redevelopment and reuse of these historic structures will serve as a vital catalyst in the recovery of these trades and services, in addition to stimulating various other related economic benefits and business activities. The purpose of this chapter is to create economic incentives for the purpose of stimulating the redevelopment and reuse of Rhode Island's historic structures, as well as to generate the positive economic and employment activities that will result from such redevelopment and reuse.

History of Section.
(P.L. 2013, ch. 144, art. 22, § 2.)