HB 7808 exempts energy storage systems (as defined in § 39-33-1) from Rhode Island's sales and use taxes. This change directly affects businesses that manufacture, install, or purchase these systems, removing a tax burden on their transactions. The bill amends Section 44-18-30 of the General Laws to add energy storage systems as a new category of exempt gross receipts. The exemption applies to sales, storage, use, or consumption of these systems within the state, aligning them with existing tax-exempt categories like school meals or newspapers. The bill is currently in the introduction stage (referred to House Finance on 2/12/2026).
Adds probation officer and parole officer to the list of public safety employees that are entitled to their full salary if they are injured and become disabled as a result of performance of their job duties.
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.
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.
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.
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.
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.
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.
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.
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.
