Budget & Taxes (Tax Credits)

passed · Rhode Island · Senate Jun 11, 2026

SB 2823: AN ACT RELATING TO TAXATION -- PERSONAL INCOME TAX

Establishes a child tax credit in the amount of three hundred thirty dollars ($330) for eligible taxpayers adjusted for inflation annually commencing January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes a child tax credit providing direct financial relief to families, which aligns with tax relief and supports lower/middle income households.90% confidence

Sub-Topics Business Taxes Income Tax Tax Credits Tags Children

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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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died · Rhode Island · Senate May 5, 2026

SB 2447: AN ACT RELATING TO TAXATION -- TAX CREDIT FOR FOOD DONATION

SB 2447 creates a tax credit for businesses and organizations that donate "apparently wholesome food" (food safe to eat but not sold due to appearance or other factors) to nonprofits serving the needy. Eligible taxpayers - including restaurants, grocers, farms, and hospitals - can claim a credit equal to 75% of the donated food's fair market value, capped at $5,000 per year. To qualify, donations must go to 501(c)(3) nonprofits that provide food to people in need, and nonprofits must provide a certificate confirming the donation meets safety standards. The credit applies to taxes under specific chapters of state law and takes effect January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit (75% of food value, capped at $5k) for businesses donating to nonprofits serving needy, incentivizing charitable giving and supporting food assistance programs through tax relief.95% confidence

Sub-Topics Business Taxes Tax Credits

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died · Rhode Island · House Apr 9, 2026

HB 7696: AN ACT RELATING TO TAXATION -- EMPLOYEE OWNERSHIP TAX CREDIT

HB 7696 establishes a tax credit for Rhode Island businesses transitioning to employee ownership structures. It provides up to 50% of eligible conversion costs (capped at $100,000 for worker-owned co-ops or employee ownership trusts, $25,000 for alternate structures) and up to 50% of expansion costs (capped at $25,000) for qualified businesses expanding existing employee ownership models. The credit applies to income tax years 2026-2028 for businesses converting to or expanding employee ownership trusts, employee stock ownership plans (ESOPs), worker-owned cooperatives, or defined "alternate equity structures" that meet specific participation and allocation requirements. This directly affects qualifying businesses seeking to shift ownership to employees while retaining community investment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit for employee ownership transitions, reducing business tax liability (tax relief) under state taxation policy.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill incentivizes employee ownership structures via tax credits, directly advancing worker control and benefits through ownership models, aligning with labor rights strengthening.95% confidence

Sub-Topics Income Tax Tax Credits

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died · Rhode Island · House Apr 14, 2026

HB 7698: AN ACT RELATING TO TAXATION -- TAX CREDIT FOR FOOD DONATION

HB 7698 creates a tax credit for businesses that donate "apparently wholesome food" (food safe for consumption meeting basic safety standards) to qualifying nonprofits. Businesses like restaurants, grocers, farms, and hospitals can claim a credit equal to 75% of the donated food's fair market value, capped at $5,000 annually per business. Nonprofits receiving donations must verify the food meets safety standards and is used to serve the needy, providing a certificate to the donor. The credit applies to taxes under specific chapters of the tax code and takes effect January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit (75% of food value, capped at $5k) for businesses donating to nonprofits, providing tax relief while supporting food distribution programs.90% confidence

Sub-Topics Business Taxes Tax Credits

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died · Rhode Island · House Apr 8, 2026

HB 8187: AN ACT RELATING TO TAXATION -- BUSINESS CORPORATION TAX

HB 8187 makes tax credits for pass-through entities refundable, meaning businesses structured as pass-through entities (like S-corps or LLCs) can receive cash refunds if their credits exceed their tax liability. This directly affects qualifying businesses that currently can only use credits to reduce their tax bill, not receive payments. The bill changes the mechanism under Section 44-11-2.3 by allowing unused credits to be paid as cash refunds instead of being carried forward. It does not alter tax rates or create new obligations, only modifying how existing credits are applied.

Topics ✓ Budget & TaxesSupports Budget & TaxesMakes tax credits refundable for pass-through businesses, providing cash refunds instead of carry-forwards, directly reducing tax liability for qualifying entities.85% confidence

Sub-Topics Business Taxes Tax Credits

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died · Rhode Island · House Apr 8, 2026

HB 8195: AN ACT RELATING TO TAXATION -- RHODE ISLAND LOCAL INVESTMENT TAX CREDIT ACT

HB 8195 creates a tax credit for Rhode Island taxpayers who invest in certain local businesses. It directly affects individual and business taxpayers who make qualifying investments in designated Rhode Island companies. The bill provides a credit equal to a percentage of the investment amount, reducing the taxpayer's state tax liability. The credit applies only to investments meeting specific criteria set by the law, such as supporting businesses in targeted economic zones. The bill is currently pending in the House Finance Committee after its introduction on February 27, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing state tax liability for qualifying local business investments, providing direct tax relief per bill's summary.95% confidence

Sub-Topics Tax Credits Tax Incentives

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signed · Rhode Island · House Jun 23, 2026

HB 8026: AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

Repeals the Tiverton tax credit for totally disabled veterans and includes a veteran's unmarried widow or widower for a tax credit in the amount of four hundred dollars ($400) or greater.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $200+ tax credit for veterans' widows/widowers, providing targeted tax relief per bill's summary.90% confidence ✗ VeteransOpposes VeteransRepeals tax credit for disabled veterans, reducing their benefits, while adding credit for widows/widowers.90% confidence

Sub-Topics Tax Credits

died · Rhode Island · House May 7, 2026

HB 7700: AN ACT RELATING TO TAXATION -- PROPERTY TAX RELIEF

Increases the income range up to fifty thousand dollars ($50,000) and tax credit up to eight hundred fifty dollars ($850), for elderly and disabled persons who own or rent their homes.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit for elderly/disabled homeowners, providing direct tax relief to lower-income groups per bill's summary.95% confidence ✓ HousingSupports HousingIncreases tax credits for elderly/disabled renters/homeowners, reducing housing costs and enhancing affordability for vulnerable groups.95% confidence

Sub-Topics Property Tax Tax Credits Property Taxes Renters

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died · Rhode Island · House Apr 16, 2026

HB 8189: AN ACT RELATING TO TAXATION -- EMPLOYER TAX CREDITS FOR RETIREMENT PLAN ESTABLISHMENT, PARTICIPATION AND AUTO-ENROLLMENT

HB 8189 offers tax credits to employers who establish retirement plans for their employees, with additional credit for implementing auto-enrollment. It directly affects employers, particularly small businesses, by reducing their tax burden for creating retirement coverage. The key provision provides financial incentives for setting up plans and automatically enrolling employees (with opt-out options) to boost participation. This policy change aims to increase retirement savings access without altering existing employee benefits.

Topics ✓ Budget & TaxesSupports Budget & TaxesOffers tax credits to employers for retirement plan setup/auto-enrollment, reducing their tax burden and incentivizing retirement savings access.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax incentives for employers to establish retirement plans with auto-enrollment, directly expanding employee retirement benefits and access to workplace savings programs.90% confidence

Sub-Topics Business Taxes Pensions Tax Credits Retirement Benefits

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