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HB 5688 Rhode Island House · 2025 Regular Session

AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

Summary
Provides an 8% tax rate for those properties that are encumbered by a deed restriction for low-income housing set at 80% or 60% of adjusted median income established by HUD.
Issues: ✓ Budget & TaxesSupports Budget & TaxesProvides 8% tax rate for low-income housing properties (80%/60% AMI), offering tax relief to support affordable housing initiatives.95% confidence ✓ HousingSupports HousingProvides 8% tax rate for properties with low-income housing deed restrictions (80%/60% AMI), incentivizing affordable housing development and preservation.95% confidence
Bill status died 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 26, 2025 Last action Mar 4, 2025
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
1
Mar 4, 2025
Committee
03/04/2025 Committee recommended measure be held for further study
legislature
Feb 26, 2025
Introduced
02/26/2025 Introduced, referred to House Municipal Government & Housing
lower
4 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Grace Diaz
Grace Diaz
DDemocratic
RI
11
P
Photo of June Speakman
June Speakman
DDemocratic
RI
68
P
Photo of Rebecca Kislak
Rebecca Kislak
DDemocratic
RI
4
P
Photo of Stephen Casey
Stephen Casey
DDemocratic
RI
50