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SB 2697 Rhode Island Senate · 2026 Regular Session

AN ACT RELATING TO TAXATION -- REAL ESTATE CONVEYANCE TAX

Summary
Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.
Issues: ✓ Budget & TaxesSupports Budget & TaxesImposes targeted tax on high-value real estate sales ($900k+) to fund affordable housing, increasing dedicated public service funding via new tax revenue stream.95% confidence ✓ HousingSupports HousingBill directs conveyance tax revenue from high-value home sales to fund affordable housing programs within 2 years, explicitly advancing housing affordability.95% confidence
Bill status died 1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
Governor
Introduced Feb 27, 2026 Last action Mar 26, 2026
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
1
Mar 26, 2026
Committee
03/26/2026 Committee recommended measure be held for further study
legislature
Feb 27, 2026
Introduced
02/27/2026 Introduced, referred to Senate Housing and Municipal Government
upper
5 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Alana DiMario
Alana DiMario
DDemocratic
RI
36
P
Photo of John Burke
John Burke
DDemocratic
RI
9
P
Photo of Mark McKenney
Mark McKenney
DDemocratic
RI
30
P
Photo of Meghan Kallman
Meghan Kallman
DDemocratic
RI
15
P
Photo of Victoria Gu
Victoria Gu
DDemocratic
RI
38