RI H8189

Creates a nonrefundable tax credit of up to $100 per participating employee (maximum $10,000 annually) for eligible employers with 100 or fewer employees who establish qualified retirement plans

Provides an additional auto-enrollment enhancement credit of up to $100 per employee (maximum $1,000 annually) for employers that automatically enroll workers in retirement plans, claimable for up to 3 consecutive years

Eligible employers must not have maintained a retirement plan covering the same employees during the 3 preceding taxable years

Unused credits may be carried forward for up to 3 consecutive taxable years, and pass-through entities may allocate credits proportionally to owners, partners, or members

Takes effect for taxable years beginning on or after January 1, 2027, with the tax administrator required to report annually to the General Assembly on credit utilization