Tassoni bill targets migrating companies

PROVIDENCE – A bill submitted by Sen. John J. Tassoni, D-North Smithfield, takes aim at large companies benefiting from tax credits suddenly packing up and leaving Rhode Island.
Tassoni’s legislation would require any company earning tax breaks/credits that relocates out-of-state during the term of its agreement with the state to repay the entirety of the tax liability on the credit the company received during that respective tax year.
Tassoni submitted the bill in response to Fidelity Investments’ recent announcement that it is moving 1,000 employees out of Malborough, Mass., and into Rhode Island and New Hampshire.
“While the Fidelity move of employees to the Smithfield campus … is good news for Rhode Island, officials in Massachusetts are seeing it very differently, losing