2014 -- H 7204

Enacted 07/08/14



J O I N T   R E S O L U T I O N




                   Introduced By: Representatives Marshall, Costantino, Gallison, Casey, and Shekarchi

                   Date Introduced: January 28, 2014



                   WHEREAS, While Rhode Island's economy is starting to show some growth and

              recovery from the financial and economic crisis that our country has faced, it continues to rank

              highest in the nation for unemployment. A real economic recovery is not possible without

              meaningful and effective action; and

                   WHEREAS, Promise Zones are proposed areas in our country that have significant

              poverty, continued high unemployment, a high rate of home foreclosures, or economic distress;


                   WHEREAS, Designation as a Promise Zone is the first step towards eligibility for

              businesses to receive various federal tax credits to hire and invest in our state; and

                   WHEREAS, This new type of Zone designation dramatically broadens opportunities for

              both existing businesses and new business, and for continued job creation: and

                   WHEREAS, In addition, these tax credit opportunities can provide assistance with

              funding new capital investments in both the short and long-term for businesses, and in helping to

              create job development; and

                   WHEREAS, Rhode Island's total recovery form this economic crisis will not happen

              overnight, but recognizing, initiating, and establishing the necessary steps towards long-term

              solutions is essential; now, therefore be it

                   RESOLVED, That this General Assembly of the State of Rhode Island and Providence

              Plantations hereby respectfully requests our state's Congressional Delegation to initiate and


              pursue all efforts to have Rhode Island declared a "Promise Zone"; and be it further

                   RESOLVED, That this General Assembly hereby requests the Rhode Island Commerce

              Corporation to apply to HUD and the United States Department of Agriculture for certification as

              a Federal Urban Promise Zone; and be it further

                   RESOLVED, That the Secretary of State be and hereby is authorized and directed to

              transmit a duly certified copies of this resolution to the President of the United States,  members

              of Rhode Island's Congressional Delegation, the Majority Leader of the United States Senate, the

              Speaker of the United States House of Representatives, and the Director of the Rhode Island

              Commerce Corporation.