Rhode Island Bills

died · Rhode Island · Senate Jun 3, 2025

SB 1045: AN ACT RELATING TO TAXATION -- BUSINESS CORPORATION TAX

SB 1045 exempts new subchapter S corporations (S corporations) in their first year of operation from paying Rhode Island's minimum corporate tax of $400. This applies to businesses that elect S corporation status under federal tax law and file their first state tax return. The bill specifically removes the requirement for these new entities to pay the minimum tax during their initial taxable year, though they remain subject to the regular 7% income tax on profits. The exemption takes effect immediately upon passage, affecting only first-year S corporations.

Topics ✗ Budget & Taxes

died · Rhode Island · Senate Jun 3, 2025

SB 616: AN ACT RELATING TO PUBLIC PROPERTY AND WORKS -- STATE PURCHASES

SB 616 defines public-private partnerships (PPPs) for state purchases and creates a framework to encourage their use. It directly affects state agencies making major purchases (like infrastructure projects) and private companies seeking to partner with them. Key provisions require agencies to use a "value for money" analysis, include specific oversight plans in proposals, and demonstrate the private partner's capability. By July 2026, the chief purchasing officer must create rules for evaluating PPPs, ensuring competitive procurement and adherence to existing contract standards. The bill aims to standardize how the state assesses and enters these long-term agreements.

Topics ✓ Transportation

died · Rhode Island · Senate Jun 3, 2025

SB 429: AN ACT RELATING TO BEHAVIORAL HEALTHCARE, DEVELOPMENTAL DISABILITIES AND HOSPITALS -- CHILDREN'S MOBILE RESPONSE AND STABILIZATION SERVICES ACT

Establishes a statewide standalone children's mobile response and stabilization services to address the behavioral health needs of children and youth ages 2 to 21. DCYF to oversee implementation of the program.

Topics ✓ Healthcare

died · Rhode Island · Senate Jun 3, 2025

SB 895: AN ACT RELATING TO TAXATION -- PUBLIC SERVICE CORPORATION TAX

SB 895 suspends the gross earnings tax on electric and gas utility companies from January 1, 2026, through January 1, 2035. Specifically, it stops the 4% tax on electricity corporations (as defined in subsection 2) and the 3% tax on gas corporations (as defined in subsection 6) during this period. The bill does not permanently repeal the tax but delays its collection for a decade. This directly affects utility companies that generate electricity or distribute gas to the public. The suspension takes effect on January 1, 2026, as specified in the bill text.

Topics ✗ Budget & Taxes

died · Rhode Island · Senate Jun 3, 2025

SB 409: AN ACT RELATING TO TAXATION -- PERSONAL INCOME TAX

SB 409 modifies Rhode Island's personal income tax calculation for residents. It adds certain income types to taxable income, including nonqualified withdrawals from college savings plans (like funds used for non-educational expenses) and forgiven Paycheck Protection Program loans exceeding $250,000. It also allows a deduction of up to $500 (or $1,000 for joint filers) for contributions to Rhode Island's tuition savings program. The bill directly affects residents with these specific income sources or contributions, effective January 1, 2025.

Topics ✓ Budget & Taxes