HB 8158, titled "The Education Equity and Property Tax Relief Act," requires the Department of Elementary and Secondary Education to review how funding formulas calculate aid for high-need students. This review focuses on the specific components used to determine support levels, aiming to ensure equitable resource allocation. The bill directly affects the state education department and the students designated as high-need under current funding formulas. As referenced in its title, the bill connects to broader education equity efforts, though its core mechanism is the mandated formula review process. The bill was introduced on February 27, 2026, and referred to the House Finance Committee.
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.
Creates the interchange fee restriction act prohibiting interchange fees on sales and use tax or excise tax when payment is made with a credit or debit card.
Establishes the office of inspector general as an independent administrative agency charged with the responsibility to investigate, detect, and prevent fraud, waste, abuse, and mismanagement in the expenditure of public funds.
HB 7681, the Education Equity and Property Tax Relief Act, provides direct state funding for specific education costs to support school districts. It covers special education expenses exceeding 4x the base funding, career and technical education program costs (including facilities and equipment), and transportation for students attending out-of-district non-public schools. The bill also establishes stabilization funds for Central Falls, Davies, and the Met Center schools due to financial challenges, and requires the state to fully fund transportation categorical funds for regional school districts starting in fiscal year 2027. Regionalized school districts like Chariho will receive a temporary two-year bonus (2% then 1% of state aid) to encourage regional collaboration.
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.
HB 8157 changes how the state calculates its contribution to the poverty loss stabilization fund, which supports school districts serving high-poverty communities. It amends the state's share statute to adjust the formula used for determining funding levels. This directly affects school districts in low-income areas that rely on this fund to offset revenue shortfalls. The key provision modifies the calculation method, potentially altering the amount of state aid these districts receive. The bill is currently in the early stages of the legislative process.
Establishes an office of inspector general as an independent administrative agency, charged with preventing and detecting fraud, waste, abuse, and mismanagement in the expenditure of public funds.
Authorizes the appropriation of the sum of $10,000,000 to the Rhode Island Foundation, to generate funds to support public education through distributions to local education agency foundations. The funds would be disbursed over 5 years.
HB 7805 establishes Rhode Island's current personal income tax structure, applying to all taxpayers with income in the state (including residents, nonresidents, estates, and trusts). It sets progressive tax rates ranging from 3.75% to 9.90% based on filing status and income levels, with specific brackets adjusted annually for inflation. The bill also includes a cap on capital gains tax rates and provisions for calculating alternative minimum tax. These changes directly affect all Rhode Island taxpayers who file state income tax returns.
