Budget & Taxes

died · Rhode Island · Senate Mar 31, 2026

SB 2640: AN ACT RELATING TO TAXATION -- CATASTROPHE SAVINGS ACCOUNTS ACT

SB 2640 would establish a new type of tax-advantaged savings account designed for unexpected major expenses like natural disasters or serious medical emergencies. The bill creates a legal framework for these "catastrophe savings accounts," allowing taxpayers to contribute funds under specific state tax rules. It would directly affect individuals who qualify to open such accounts for emergency expenses. The bill was introduced to the Senate Commerce committee on February 27, 2026, and remains in the early stages of consideration.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax-advantaged savings accounts for emergency expenses, providing tax relief to individuals without increasing tax burdens on middle/lower income.95% confidence

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died · Rhode Island · House Apr 28, 2026

HB 7682: AN ACT RELATING TO EDUCATION -- TRANSPORTATION OF SCHOOL PUPILS BEYOND CITY AND TOWN LIMITS

Allows an individual school district that can utilize its own buses or vendors at a lower cost than the statewide system, to obtain reimbursement for these costs from state funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enables reimbursement from state funds for school transportation costs, directing state budget allocation toward this public service without tax changes.85% confidence ✓ EducationSupports EducationEnables school districts to use cost-effective transportation and receive state reimbursement, reducing operational costs and supporting school funding efficiency.90% confidence ✓ TransportationSupports TransportationBill provides state reimbursement for school district transportation costs (buses/vendors) beyond city limits, directly funding a transportation service.90% confidence

Sub-Topics School Funding School Transportation

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passed · Rhode Island · House May 22, 2026

HB 8006: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

HB 8006 establishes a special 8% property tax rate for qualifying affordable housing in Rhode Island, instead of standard local tax rates. To qualify, properties must have legal agreements restricting rents to 30% of tenant income for households at or below 80% of area median income (for 40% of units) or 60% AMI (for 30% of units). Conversions of existing non-residential buildings to housing qualify until 2037, with tax rates gradually increasing from 8% to 12% over 30 years. This directly affects property owners of qualifying affordable housing and local governments setting tax policies.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes 8% property tax rate for affordable housing targeting low-income renters (30%/60% AMI), providing tax relief for qualifying properties per fiscal policy indicators.92% confidence ✓ HousingSupports HousingBill creates 8% property tax rate for affordable housing with income-based rent restrictions (30% of income for 40% units at 80% AMI), incentivizing development and tenant protections.95% confidence

Sub-Topics Property Tax Tax Incentives Affordable Housing Property Taxes

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in committee · Rhode Island · House Feb 6, 2026

HB 7595: AN ACT RELATING TO TAXATION -- WEALTH TAX

HB 7595 would impose a 1% tax on the worldwide wealth of Rhode Island residents, effective January 1, 2027. It applies to individuals and businesses (defined as "artificial persons") with significant assets like stocks, business ownership, and intellectual property. The tax is calculated annually based on the fair market value of these assets as of December 31 each year. This directly affects high-net-worth residents and entities domiciled in Rhode Island, excluding certain exempt intangible assets.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new 1% wealth tax on high-net-worth individuals/businesses, directly increasing state revenue through targeted taxation per bill's explicit language.95% confidence

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died · Rhode Island · Senate Apr 30, 2026

SB 2672: AN ACT RELATING TO TAXATION -- PERSONAL INCOME TAX

SB 2672 would gradually reduce the state's personal income tax rates over time. This bill directly affects individuals who pay state income tax by lowering their tax burden through phased cuts. The key mechanism involves decreasing tax rates in scheduled steps rather than all at once, as outlined in the bill's abstract. The bill was introduced to the Senate Finance Committee on February 27, 2026, and remains in early legislative review.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly reduces personal income tax rates, providing direct tax relief to taxpayers, aligning with support indicators for tax reduction.95% confidence

Sub-Topics Business Taxes Income Tax

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died · Rhode Island · House Apr 9, 2026

HB 8188: AN ACT RELATING TO TAXATION -- CIGARETTE, OTHER TOBACCO PRODUCTS, AND ELECTRONIC NICOTINE-DELIVERY SYSTEM PRODUCTS

Defines an alternative nicotine product as any noncombustible product without tobacco leaf but nicotine from another source and also taxes alternative nicotine products at $2.00 per container up to 20 units.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new tax on nicotine products, generating state revenue for budget purposes95% confidence

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died · Rhode Island · House May 7, 2026

HB 8198: AN ACT RELATING TO TAXATION -- SALES AND USE TAXES -- LIABILITY AND COMPUTATION

This bill proposes imposing a sales tax on digital advertising services, such as online display ads or social media promotions. It directly affects digital advertising companies that sell these services to businesses, requiring them to collect the tax from buyers and remit it to the state. The key mechanism is adding digital advertising to the state's existing sales tax framework, treating it similarly to other taxable services. The bill is currently in the introduction phase, having been referred to the House Finance committee on February 27, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new sales tax on digital advertising services, increasing state revenue through existing tax framework without relief measures.95% confidence

Sub-Topics Sales Tax

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died · Rhode Island · House Apr 14, 2026

HB 8145: AN ACT RELATING TO PUBLIC FINANCE -- STATE FUNDS

Establishes a restricted receipt account for the benefit of the Rhode Island public transit authority funded by sales taxes collected from ride-share companies; and provided further, the account would be exempt from indirect cost recovery provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesFunds public transit via sales tax revenue from ride-share companies, directing tax funds to an essential public service per fiscal responsibility indicators.95% confidence ✓ TransportationSupports TransportationFunds Rhode Island public transit authority via ride-share sales tax revenue, directly supporting transportation infrastructure and services.95% confidence

Sub-Topics Sales Tax Public Transit Transportation Funding

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died · Rhode Island · House Mar 31, 2026

HB 8142: AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- RESIDENTIAL REUSE INCENTIVE ACT

Creates a state program and fund to finance adaptive reuse and mixed-use housing projects, requires affordable units and labor standards, and provides oversight to expand housing until 2035.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates state fund for housing projects, aligns with funding essential programs under Budget & Taxes topic85% confidence ✓ HousingSupports HousingCreates state fund for adaptive reuse housing projects requiring affordable units and labor standards to expand housing until 2035.95% confidence

Sub-Topics Affordable Housing Historic Preservation Zoning

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in committee · Rhode Island · House Feb 11, 2026

HB 7699: AN ACT RELATING TO TAXATION -- ESTATE AND TRANSFER TAXES -- LIABILITY AND COMPUTATION

HB 7699 eliminates Rhode Island's estate tax by repealing Chapter 44-22 of the General Laws, which previously imposed a progressive tax on inherited property. This affects heirs who would have paid taxes on estates valued above $25,000, removing a state-level tax on property transferred after a person's death. The bill removes all tax rates (ranging from 2% to 9% depending on estate size) and related deductions described in the repealed chapter. As a result, estates passing to heirs in Rhode Island will no longer be subject to this specific state tax.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill eliminates Rhode Island's estate tax by repealing the tax code, removing progressive rates (2%-9%) and deductions, directly weakening state tax collection under Budget & Taxes.95% confidence

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