RI S2624

All rate reductions under the Jobs Development Act (Chapter 42-64.5) will discontinue no later than July 1, 2026

Companies that qualified for rate reductions before July 1, 2015 may maintain those reductions through June 30, 2026, but no additional rate reductions are permitted

No new tax credits may be authorized or reserved under the Jobs Development Act after June 30, 2026

Companies maintaining existing rate reductions must continue to comply with all obligations required under the original Jobs Development Act

Takes effect immediately upon passage