S2334

	2014 -- S 2334
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	LC004109
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	STATE OF RHODE ISLAND
	IN GENERAL ASSEMBLY
	JANUARY SESSION, A.D. 2014
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	A N A C T
	RELATING TO TAXATION

	Introduced By: Senator Daniel DaPonte
	Date Introduced: February 12, 2014
	Referred To: Senate Finance
	It is enacted by the General Assembly as follows:
1	SECTION 1. Title 44 of the General Laws entitled "TAXATION" is hereby amended by
2	adding thereto the following chapter:
3	CHAPTER 69
4	REGULATION OF SALE OF TAX CREDITS
5	44-69-1. Regulation of sale of tax credits. – (a) Notwithstanding any provision of the
6	general or public laws, prior to the sale or brokering of any tax credit issued by, or on behalf of
7	the state, the seller and broker of the tax credit shall furnish to the tax administrator a certified
8	statement, developed by the tax administrator and containing information that the tax
9	administrator may require, including, without limitation, all persons, brokers, entities and
10	professionals receiving compensation in connection with the sale or brokerage of the tax credit. In
11	connection with the foregoing, the tax administrator may examine any documentation bearing
12	upon the matters required to be included in the certification, and may require the attendance of
13	the person executing the certified statement and examine the person under oath respecting any
14	matter which the tax administrator deems pertinent or material in determining the accuracy of the
15	certified statement.
16	(b) All of the information provided in subsection (a) shall be publicly disclosed in a form
17	determined by the tax administer on an annual basis.

1	SECTION 2. This act shall take effect upon passage.
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	LC004109
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	LC004109 - Page 2 of 3
	EXPLANATION
	BY THE LEGISLATIVE COUNCIL
	OF
	A N A C T
	RELATING TO TAXATION
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1	This act would regulate and impose certain disclosure requirements upon the sale or
2	brokering of tax credits issued by or on behalf of the state.
3	This act would take effect upon passage.
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	LC004109
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	LC004109 - Page 3 of 3