Creates new tax on gains from sale or exchange of real property held for short periods of time, 6 years or less, establishes a comprehensive framework to calculate and implement enforcement and provides imprisonment and/or fines for those who evade taxes.
Phases in modifications to federal adjusted gross income over a 4 year period for social security income, from 25% up to 100%, beginning on or after January 1, 2025.
Maddy summarySB 2366 establishes a new subsidy program designed to help low-income households afford their home energy bills. The law requires large electric and gas utilities to create a tiered payment plan that caps utility costs at a specific percentage of a customer's income, with discounts applied to both monthly bills and past owed amounts. Eligible households are defined as those earning up to 150% of the federal poverty level, and the program's cost will be covered by rate adjustments for all other customers. The Public Utilities Commission will oversee the creation and approval of these plans, ensuring they balance affordability for low-income families with reasonable administrative expenses.
Requires businesses that offer automatic subscription renewals/continuous service offers to provide consumers with notice to the consumer prior to their engagement in the contract along with notice of renewal of subscription/cancellation info. eff. 1/1/25
Maddy summaryThis bill creates the Rhode Island Drug Cost Review Commission to address rising prescription drug prices by treating them similarly to regulated utilities. The new commission will consist of five appointed members and a thirteen-member advisory board representing patients, doctors, insurers, and other stakeholders. Manufacturers must notify the commission if they plan to increase drug prices by more than ten percent or introduce new drugs costing over thirty thousand dollars annually, triggering a public review process. During these reviews, the commission will analyze costs and vote on whether to set price limits for payers, with decisions made publicly by a simple majority vote.
Effective July 1, 2024, entitles environmental police officers to the benefits provided by chapter 45-21.2 entitled "Optional retirement for members of police force and firefighters."
Provides $4 million to support after school and school vacation, summer learning workforce development programs for K-12 students with annual reports on status and programs.
Creates the Rhode Island baby bond trust to provide investment funds to children born to families with public health insurance or no insurance living in Rhode Island.
Maddy summaryThis Senate resolution officially designates May 2024 as Asian American, Native Hawaiian, and Pacific Islander Heritage Month in Rhode Island. The bill honors the historical and cultural contributions of these communities to the state, citing their long-standing presence and achievements in fields such as education, healthcare, and the military. It encourages all Rhode Islanders to participate in programs and activities that celebrate this heritage during the month. Additionally, the resolution directs the Secretary of State to send certified copies of the document to individuals who have helped promote this history and culture.
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.
