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R.I. House favors reviving historic tax-credit program for commercial redevelopment projects

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By Philip Marcelo

PROVIDENCE, R.I. - After a more than two-hour debate, the state House of Representatives on Tuesday approved a budget provision reviving the state's historic tax-credit program for commercial redevelopment projects.

Along the way, they voted down numerous amendments to strip away controversial parts of the provision.

The historic tax-credit program had helped rehabilitate old mill and industrial buildings throughout the state before being closed off to new applicants in 2008 amid budget shortfalls.

Approval came more than five hours into the chamber's marathon Tuesday debate on a new $8.2 billion budget for the year starting July 1. Lawmakers then broke for dinner. They are expected to reconvene at 9:15 p.m.

So far they have approved about 20 of the 26 articles. But new budget articles are expected to be introduced as well.

The proposed new credit program would use only $34 million in credits allocated under the previous program but ultimately never issued because projects were not completed.
The credit program would also limit projects to claiming no more than $5 million worth of credits, which can be used to offset state income taxes.

A key flashpoint was a provision requiring that any projects worth more than $10 million and seeking historic tax credits must have a union-approved apprenticeship program.
State Rep. Jared Nunes, a West Warwick Democrat who owns a construction company, was among a number concerned that the provision would unfairly put non-union companies at a disadvantage.

"This is a great article and we are going to screw it up. I'm speechless. This reeks of special interest," he said. "We have to create jobs. Not just union jobs."

Rep. Patricia Morgan, R-West Warwick, proposed an amendment striking the provision, but the amendment was ultimately one of a number defeated in floor votes.

Morgan also tried amending the historic tax-credit provision so that companies with fewer than 50 workers are exempt from the provision's apprenticeship requirement, rather than the proposed threshold of five workers. That amendment failed too.

Elsewhere, state Rep. Joseph Trillo, R-Warwick, proposed requiring legislative approval over issuance of any credits worth $1 million or more.

And Rep. Karen MacBeth, D-Cumberland, proposed another amendment that would have prevented projects from transferring credits to other individuals or entities. "I just don't want one person or entity buying up all the tax credits," she said.

But a number of lawmakers said that would effectively defeat the purpose of tax credits, which are used to raise capital for a development project through resale of the credits. MacBeth's amendment was also defeated.


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