Senate bill would require a surety bond for tax credits

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SEN. FRANK LOMBARDI has introduced a bill that would require developers who receive state tax credits to provide a surety bond that will assure they pay their contractors and suppliers. / COURTESY R.I. GENERAL ASSEMBLY
PROVIDENCE – A Cranston legislator has introduced a bill that would require developers who receive state tax credits to provide a surety bond that will assure they pay their contractors and suppliers. Introduced by Sen. Frank Lombardi, D-Cranston, the measure also would require a sworn affidavit that the developer had no outstanding liens on any…

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