historic tax credit

The Bottom Line
1:39 pm
Fri June 27, 2014

The Bottom Line: When Historic Tax Credits Are Off The Table

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line.

This week Dave and Mark talk with Grow Smart Rhode Island Executive Director Scott Wolf. They discuss the future of the historic tax credit and how projects waiting in the wings may never come to fruition.

When to Listen

You can hear The Bottom Line each Friday at 5:50pm.

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Politics
9:08 am
Thu June 12, 2014

House Lawmakers Set To Take Up State Budget

A vote on the state budget is expected from the House Thursday evening.
Credit RIPR FILE

Lawmakers are set to begin their annual marathon session this Thursday to vote on a budget for the fiscal year starting July first. The $8.7 billion spending plan eliminates tolls on the Sakonnet River Bridge.

House Speaker Nicholas Mattiello says he’s gotten only positive feedback about the spending plan. The budget cuts the corporate tax rate from 9 to 7 percent and raises the exemption for the inheritance tax. The spending plan also includes $12.3 million to continue paying back investors in 38 Studios.

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Politics
8:51 am
Thu June 12, 2014

State's Historic Tax Program Not Included In State Budget

The top of the Atlantic Mills building in Providence is one of the Providence Preservation Society most 'endangered' properties in the city. The Society has been working to redevelop the property; hoping to take advantage of the state's historic tax credits program.
Credit Providence Preservation Society

The House will take up a budget Thursday that does not include funding for the state’s historic tax credit program. In his budget, the governor included $52 million in tax credits with a $5 million per-project cap. But in a statement, House Speaker Nicholas Mattiello said the state is taking a one-year break, and points to projects still in the pipeline. Providence Preservation Society Executive Director Brent Runyon said that pipeline needs to stay open.

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The Bottom Line
5:31 pm
Fri January 17, 2014

The Bottom Line: The Future Of The Dynamo House

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.

This week Dave and Mark talk with Providence Business News staff writer Patrick Anderson. They discuss potential development of the old Providence waterfront power plant called Dynamo House. It’s entangled in ownership, legal and regulatory issues.

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Politics
9:38 am
Wed August 28, 2013

Division of Taxation Hands Out Historic Tax Credits

Using a lottery system, the Division of Taxation handed out 31 Historic Tax credits.
Credit RIPR FILE

The Rhode Island Division of Taxation held a drawing Tuesday to award just $35 million in state historic tax credits.  The General Assembly voted earlier this year to reopen the historic tax credit program.

The Division of Taxation used a drawing to pick who would get the tax credits since demand outstripped supply. State Tax Administrator David Sullivan says the recipients comprise a variety of projects expected to boost the economy.

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