Rhode Island Governor Signs Law Amending Historic Preservation, Rebuild Tax Credits

The Rhode Island Governor signed a law amending the state’s historic preservation tax credit program and Rebuild Rhode Island tax credit program. Key changes include: 1) clarifying that contractors for large construction projects exceeding $25 million in direct hard construction costs are required to pay prevailing wages under state law and file certified payroll reports; 2) amending the Rebuild RI tax credit program to allow additional sales and use tax exemptions of up to 30 percent of the maximum project credit, for housing and mixed-use projects with at least 20 percent affordable or workforce housing units; and 3) adjusting the ...