Maddy summaryThis bill creates a tax credit for businesses in Rhode Island that transition to employee ownership models, such as employee stock ownership plans, worker cooperatives, or employee ownership trusts. The credit covers up to 50% of conversion costs, with a maximum of $100,000 for full employee ownership transitions or $25,000 for partial equity structures, and allows an additional $25,000 credit for expanding existing employee ownership programs. To qualify, businesses must grant at least 20% ownership rights to eligible workers and provide them with decision-making rights comparable to current shareholders. The tax credit applies to income tax years between January 1, 2026, and January 1, 2029, and requires businesses to apply through the state Department of Revenue for certification.
Sen. Lou DiPalma
Sponsored bills
Maddy summaryThis bill authorizes an $800,000 appropriation to WaterFire Providence, a nonprofit arts organization that hosts annual bonfire events on downtown Providence's three rivers. The funding is intended to provide operational support for the organization's programs, including its public events and community initiatives like the ArtLab and WaterFire Accelerate program. The resolution directs the state controller to draw payment from unappropriated treasury funds for the 2026-2027 fiscal year upon receipt of proper documentation.
Prohibits state agencies from entering into software contracts that limit the agency's ability to install or run the software of the agency's choosing on their hardware.
Prohibits applications filed in the town of Tiverton, for comprehensive permit projects, for low- and moderate-income housing, to include accessory dwelling units.
Prohibits applications for a comprehensive permit under the Rhode Island comprehensive planning and land use regulation act in any watershed overlay protection district located in the town of Tiverton.
Allows the town of Tiverton, with an aggregate of 500 or more units proposed in a comprehensive permit project, to enact a short-term emergency moratorium until the permit laws are amended.
Permits the town of Tiverton to require additional testing, to be performed by and at the expense of the developer, to ensure that there is no dewatering or loss of effective recharge to surrounding wells within close proximity of the new construction.
Requires the Rhode Island housing authority to verify and document the count of affordable housing stock in the town of Tiverton two (2) times per year.
Maddy summarySB 2588 allows the town of Tiverton to set its own density bonuses for housing developments under inclusionary zoning rules, rather than following the standard statewide requirement. The bill amends zoning laws to require 15% affordable housing in developments of 10+ units, with a standard density bonus of one market-rate unit per affordable unit. However, Tiverton is specifically exempted from this standard and may determine its density bonus based on its existing zoning regulations. This directly affects Tiverton developers and residents by giving the town flexibility in how it incentivizes affordable housing. The bill does not change statewide inclusionary zoning rules but provides a local option for Tiverton.
Authorizes the town of Tiverton to require that fifty percent (50%) of new construction be affordable housing units if there is less than ten percent (10%) of affordable housing in the town.