Sen. Walter Felag

Maddy summarySB 409 modifies Rhode Island's personal income tax calculation for residents. It adds certain income types to taxable income, including nonqualified withdrawals from college savings plans (like funds used for non-educational expenses) and forgiven Paycheck Protection Program loans exceeding $250,000. It also allows a deduction of up to $500 (or $1,000 for joint filers) for contributions to Rhode Island's tuition savings program. The bill directly affects residents with these specific income sources or contributions, effective January 1, 2025.

Authorizes the Providence city council to set the veterans tax exemption limit to an amount determined by the city council via ordinance or resolution.

Validates and ratifies the amendments to the Tiverton Home Rule Charter which were approved by the electors of the town of Tiverton on November 5, 2024.

Maddy summarySB 329 creates a new 3% tax rate on Rhode Island taxable income exceeding $625,000 (adjusted for inflation starting in 2025 dollars). This additional tax applies only to high-income earners - specifically individuals and households with income above that threshold - and takes effect for tax years beginning in 2026 or later, with no retroactive application. The bill amends Rhode Island’s existing personal income tax code to add this rate to the current progressive brackets, which already tax higher incomes at up to 9.9%. It directly affects residents and nonresidents with significant earnings, while leaving lower-income tax brackets unchanged. The measure is currently pending further study after a committee recommended holding it for additional review.

Maddy summarySB 438 provides a property tax exemption for veterans' primary residences, directly affecting veterans who served in specified conflicts (including World War I, WWII, Korea, Vietnam, Gulf War, and others) with an honorable discharge, plus their unmarried surviving spouses. The bill exempts a set dollar amount from property taxes on the veteran's primary home, with the exemption amount varying by municipality (e.g., $1,000 statewide minimum, up to $40,500 in Westerly). Key provisions require veterans to reside in the state, provide proof of service and residency to assessors, and apply the exemption to their primary residence's value. The exemption applies to both real property and, in some towns, personal property, with specific local limits set by town councils. This policy change reduces property tax liability for qualifying veterans without altering broader tax structures.

Maddy summaryThis bill (SR 667) requests $1,100,000 in state funds specifically for higher quality infant and toddler early care and education programs. The funds would be allocated to the Department of Human Services to sustain and expand access to these services. The bill directly affects infants and toddlers in early childhood programs by providing dedicated funding for program quality and availability. It is a funding resolution, not a policy change, and does not alter existing program structures.

Exempts individual retirement accounts as a countable resource for public assistance. This act also prohibits the state as a creditor against an ABLE account in the event of death of a beneficiary.

Prohibits the state from seeking reimbursement for expenditures made on behalf of disabled Rhode Islanders from an ABLE account after death of the designated beneficiary.

Permits the town of Tiverton to require additional testing, to be performed by the developer, to ensure that there is no dewatering or loss of effective recharge to surrounding wells within close proximity of the new well.

Maddy summarySB 1102 allows the town of Tiverton to set its own density bonus rules for affordable housing developments, overriding standard statewide requirements. Under the bill, Tiverton can determine how many additional market-rate units developers may build in exchange for including affordable housing, based on its local zoning regulations. This exception applies specifically to Tiverton, while other Rhode Island municipalities must follow the standard rule requiring one market-rate unit per affordable unit. The bill also maintains statewide requirements that affordable housing must constitute at least 15% of new developments (for projects over 10 units) and remain affordable for 30 years. Tiverton’s local approach to density bonuses is the only deviation from these statewide rules.