Specifies that pre-k programs for three (3) – and four (4) – year olds be added to programs to increase access to voluntary, free, high-quality pre-kindergarten programs.
Defines a seasonably-habitable non-owner occupied residence, which is not the primary residence of the taxpayer, and which would be exempt from the non-owner occupied property tax.
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.
Authorizes the town of Middletown to adopt by ordinance, a veterans’ property tax exemption to any veteran, who was honorably discharged, or discharged under conditions other than dishonorable, regardless of dates or periods of service.
Increases the amount of state aid distributed to the towns and cities through appropriation in lieu of property tax provisions applicable to certain private and state properties that are exempt from property tax.
Authorizes the town of Middletown to adopt by ordinance, a veterans’ property tax exemption to any veteran, who was honorably discharged, or discharged under conditions other than dishonorable, regardless of dates or periods of service.
Changes the assessment for residential property where forty percent (40%) of the dwellings are below eighty percent (80%) of statewide median income and thirty percent (30%) are below sixty percent (60%).
Provides a totally and permanently disabled veteran with a one hundred percent (100%) exemption from local taxation on real or personal property including real property located in any fire or lighting district.
Amends State funding calculations for special education, revising extraordinary cost calculations for FY 2028-2029, and providing additional funds for excess costs when special education students move into a district after the budget is approved.
SB 2551 revises how the state calculates education funding for school districts, using a new formula that considers both a district's revenue capacity and the percentage of students in poverty (specifically for districts with over 50% poverty). It creates a "poverty loss stabilization fund" to support districts experiencing a significant drop (more than 2%) in their state funding share, and requires the state to publish an annual report identifying unfunded district costs. The bill also allocates new state funds for special education, career and technical education programs, pre-kindergarten access, and specific stabilization support for Central Falls, Davies, and the Met Center school districts. Additionally, it provides direct state funding for transportation costs for students attending non-public schools and within regional school districts.
