Budget & Taxes

Prohibits participation in federal school voucher tax credit for contributions to scholarship-granting organizations unless both the general assembly and the governor approve such participation.

Prohibits participation in federal school voucher tax credit for contributions to scholarship-granting organizations unless both the general assembly and the governor approve such participation.

Bars the council from granting approval to create or expand a charter school beginning operations in 26-27 school year and bars the state from approving or appropriating funds to a new charter school not approved before July 1, 2025.

HB 7127 is a state budget bill allocating hundreds of millions of dollars in funding for Rhode Island's fiscal year ending June 30, 2027. It directs specific funding amounts to state agencies and programs, including Central Management, Health Benefits Exchange, Debt Service Payments, and infrastructure projects like building renovations and facility upgrades. The bill establishes concrete funding levels for departments such as Health and Human Services, Education, and Information Technology, with detailed allocations for both general revenue and restricted funds. This legislation directly affects state agencies and programs that will receive these designated funds to operate during the 2027 fiscal year.

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.