Budget & Taxes

in committee · Rhode Island · House Feb 6, 2026

HB 7593: AN ACT RELATING TO TAXATION -- SALES AND USE TAXES -- LIABILITY AND COMPUTATION

Exempts from the sales tax firearm safety equipment, storage devices, gun safes, gun cabinets, gun vaults, gun cases, strong boxes, cable locks, trigger locks and biometric locks.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts firearm safety equipment from sales tax, providing tax relief directly impacting taxation policy.90% confidence

Sub-Topics Sales Tax

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died · Rhode Island · House Apr 7, 2026

HB 7915: AN ACT RELATING TO WATERS AND NAVIGATION -- REGULATION OF BOATS

Authorizes the collection of a small additional fee, in addition to the registration fee paid by motorboat owners, to be deposited in a restricted account, in order to fund the newly established freshwater lake management program.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill authorizes new boat registration fee (tax) to fund freshwater lake program, directly allocating tax revenue to a specific budgetary purpose.90% confidence ✓ EnvironmentSupports EnvironmentFunds freshwater lake management program via boat registration fees, directly supporting water resource conservation and environmental protection efforts.95% confidence

Sub-Topics Fees & Licensing

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in committee · Rhode Island · Senate May 12, 2026

SB 2549: AN ACT RELATING TO TAXATION -- TAX ON GAINS FROM THE SALE OR EXCHANGE OF REAL PROPERTY

Creates new tax on gains from sale or exchange of real property held for short periods of time, 6 years or less, establishes a comprehensive framework to calculate and implement enforcement and provides imprisonment and/or fines for those who evade taxes.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax on short-term real estate gains to close loophole, enhance tax collection, and strengthen fiscal management per bill summary.95% confidence

Sub-Topics Business Taxes

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died · Rhode Island · House May 7, 2026

HB 8199: AN ACT RELATING TO TAXATION -- SALES AND USE TAXES -- LIABILITY AND COMPUTATION

HB 8199 creates a temporary sales tax holiday for qualifying items on August 8 and 9, 2026. During this period, retailers will not collect sales tax on eligible purchases. The bill directly affects consumers making purchases during those dates and retailers who would normally collect sales tax. This provision exempts specific items from state sales tax for two days, though the abstract does not specify which items qualify.

Topics ✓ Budget & TaxesSupports Budget & TaxesTemporary sales tax holiday provides immediate consumer tax relief during specific dates, aligning with support indicators for middle-income households.90% confidence

Sub-Topics Sales Tax

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died · Rhode Island · House Jun 2, 2026

HB 7702: AN ACT RELATING TO TAXATION -- PERSONAL INCOME TAX

HB 7702 modifies Rhode Island's personal income tax calculation by adding back certain federal tax exclusions to residents' adjusted gross income. It specifically requires adding nonqualified withdrawals from tuition savings programs (e.g., withdrawals not used for education costs) and federal PPP loan forgiveness exceeding $250,000. The bill also allows a deduction of up to $500 ($1,000 for joint filers) for contributions to Rhode Island's tuition savings program, subject to limits like excluding rollovers or non-participant contributions. This directly affects residents using tuition savings accounts or receiving federal stimulus funds, altering their taxable income for state tax purposes.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses tax loopholes by making nonqualified tuition withdrawals and large PPP forgiveness taxable, increasing state revenue. Limited tuition savings deduction is offset by revenue gain, strengthening tax base.95% confidence

Sub-Topics Income Tax

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died · Rhode Island · House May 7, 2026

HB 8192: AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

HB 8192 imposes a 2% tax on the portion of a private college's endowment exceeding $1 billion. It directly affects private institutions of higher education with endowments over $1 billion, requiring them to pay this tax on the amount above that threshold. The bill's key provision is the specific tax rate applied to the excess value, creating a new revenue source for the state. Introduced on February 27, 2026, it is currently under review by the House Finance committee.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 2% tax on private college endowments >$1B, creating new state revenue source per bill summary.95% confidence

Sub-Topics Business Taxes

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died · Rhode Island · House May 7, 2026

HB 7504: AN ACT RELATING TO TAXATION -- CATASTROPHE SAVINGS ACCOUNTS ACT

HB 7504 creates tax-advantaged "catastrophe savings accounts" for homeowners to cover disaster-related costs. Taxpayers can deduct contributions (capped at $25,000 for those with standard deductibles or $250,000 for self-insured homeowners) and earn tax-exempt interest. Withdrawals remain tax-free if used for qualified expenses like uncovered repair costs or insurance deductibles after a declared disaster. The program applies only to primary residences with one account allowed per home, effective for 2027 tax years.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deductions and exemptions for disaster savings accounts, providing tax relief to homeowners. Explicitly framed as tax-advantaged program.95% confidence

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died · Rhode Island · House May 5, 2026

HB 7692: AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- OFFICE OF HEALTH AND HUMAN SERVICES

Sets controls on Medicaid prescription drug costs by imposing transparency and accountability requirements on managed care organizations (MCOs) and their pharmacy benefit managers (PBMs).

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes cost controls on Medicaid drug spending to reduce state expenditure, promoting fiscal responsibility in government spending.80% confidence ✓ HealthcareSupports HealthcareImposes transparency requirements on MCOs/PBMs to control Medicaid drug costs, improving patient access and cost management.90% confidence

Sub-Topics Medicaid Prescription Drugs

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signed · Rhode Island · Senate Jun 22, 2026

SB 2678: AN ACT RELATING TO EDUCATION -- TEACHERS' RETIREMENT

SB 2678 increases the monthly minimum retirement benefit paid to spouses, domestic partners, and former spouses of retired teachers. This change directly affects individuals who receive survivor benefits under the teachers' retirement system. The bill raises the minimum monthly payment amount without altering other retirement eligibility rules. It was introduced on February 27, 2026, and referred to the Senate Finance Committee.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases government spending on teacher retirement benefits, directly funding a public program through higher monthly payments without tax changes.85% confidence ✓ EducationSupports EducationIncreases retirement benefits for teachers' families, directly supporting educator welfare and financial security within education policy.92% confidence

Sub-Topics Pensions

died · Rhode Island · House May 7, 2026

HB 7594: AN ACT RELATING TO TAXATION -- PERSONAL INCOME TAX

HB 7594 increases Rhode Island's earned-income tax credit (EITC) rate to 30% for tax years beginning in 2027 and later. This change directly benefits low-to-moderate income workers who qualify for the EITC, providing them with a larger refundable tax credit. The bill amends the state's tax code to adjust the credit percentage while maintaining the existing eligibility rules for qualifying individuals and families. This is a concrete policy change that will increase tax refunds for eligible working residents starting in 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases EITC rate to 30% for low-to-moderate income workers, providing direct tax relief and larger refunds per tax code amendment.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases EITC rate to 30% for low-to-moderate income workers, directly expanding tax refunds and financial support for qualifying employees.95% confidence

Sub-Topics Income Tax Tax Credits

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