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 stipulates that all rate reductions will cease no later than July 1, 2026. No new rate reductions will be authorized after this date, and no credits shall be reserved pursuant to this chapter after June 30, 2026. The act is designed to sunset the Jobs Development Act rate reductions, ensuring a clear end date for these incentives. This act will take effect upon passage.

Statutes affected:
2624: 44-48.3-12