Permits every municipality in the state to offer a homestead tax exemption of up to 20% of assessed value on residential properties, and also provides that municipalities that grant greater exemptions not be limited by this section.
Expands the definition of “book or other writing” to sales up to one thousand five hundred (1,500) copies and deny the sales tax exemption for third-party sales.
SB 2422 allows the town of Jamestown to expand tax exemptions for seniors aged 65+ who own and occupy their primary residence. It establishes income-based exemption tiers (10% to 60% off property taxes) based on household income relative to federal poverty guidelines, with stricter rules for higher-income seniors. To qualify, applicants must be Jamestown residents for five years, own only residential property (not income-producing), and provide proof of income. The bill does not change existing statewide tax rules but gives Jamestown local authority to adjust its senior exemption program through town ordinances.
Establishes a compact agreement among at least two (2) states to prohibit the selective use of subsidies to an existing specific industry or company, entice relocation from one state to another state or to open a new facility.
Authorizes a municipality to adopt by local 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.
SB 2346 creates tax exemptions for property, tangible personal property, sales, and use taxes to incentivize the development of qualified data centers in Rhode Island. It directly affects data center developers and operators who meet the bill's criteria, including those making eligible costs for construction, equipment, and site development. The key provision allows qualifying data center projects to avoid these taxes on specific expenses like land, buildings, equipment, and labor costs related to construction. This policy aims to attract data center investments by reducing development costs for businesses meeting the defined standards. The bill modifies existing law governing the Rhode Island Commerce Corporation to implement these tax incentives.
Includes municipal detention facility corporations as exempt from taxation, and requires that an amount equal to 27% of all tax that would have been collected if the property was taxable be paid to the municipality annually.
HB 7151 allows the town of Jamestown to create a new property tax exemption program for seniors aged 65+ who own and occupy their primary residence. The bill establishes income-based exemption tiers (ranging from 10% to 60% of property value) based on household income relative to federal poverty guidelines, with strict residency requirements (5 years in Jamestown). It explicitly excludes income-producing properties (like home offices or rental units) and requires applicants to provide income documentation. This bill directly affects eligible Jamestown seniors meeting the income, residency, and property-use criteria.
Creates an affordable housing business tax credit as well as eliminate sales tax on any materials purchased for use in the renovation of affordable rental housing.
SB 2021 creates a temporary tax exemption for small Bitcoin transactions in Rhode Island. It exempts individuals and Rhode Island-based businesses from state income tax on Bitcoin sales or exchanges totaling $5,000 or less per month, or $20,000 or less annually. Taxpayers must self-certify eligibility on their annual tax return and maintain records to verify they stayed within the limits, but do not need to report each transaction individually. The exemption applies only to transactions within the state and expires on January 1, 2028.
