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RI H7505
Bill
Status
Introduced
2/4/2026
Primary Sponsor
Jennifer Stewart
Click for details
AI Summary
- All tax rate reductions provided under Rhode Island's Jobs Development Act (Chapter 42-64.5) must discontinue no later than July 1, 2026
- Companies that qualified for a rate reduction prior to July 1, 2015, may maintain the rate reduction in effect as of June 30, 2015, but no additional reductions are permitted and all existing obligations remain in force
- Adds a sunset provision to the Jobs Development Act prohibiting any new credits from being authorized or reserved after June 30, 2026
- Introduced on February 4, 2026, by Representatives Stewart, Cotter, Tanzi, and seven other co-sponsors, and referred to the House Finance Committee
- The act would take effect immediately upon passage
Legislative Description
Sunsets/discontinues the Jobs Development Act rate reduction as of July 1, 2026.
Taxation
Last Action
Introduced, referred to House Finance
2/4/2026
Committee Referrals
Finance2/4/2026
Full Bill Text
No bill text available