The bill amends the Rhode Island New Qualified Jobs Incentive Act by discontinuing the rate reductions provided under the Jobs Development Act effective July 1, 2015. It specifies that all rate reductions will cease no later than July 1, 2026. The bill establishes that no credits shall be authorized to be reserved under the Jobs Development Act after June 30, 2026. This act is set to take effect upon passage, effectively sunsetting the Jobs Development Act rate reductions and providing a clear timeline for the discontinuation of these incentives.

Statutes affected:
7505: 44-48.3-12