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RI H8192
Bill
Status
2/27/2026
Primary Sponsor
David Morales
Click for details
AI Summary
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Imposes a 2% annual tax on private higher education institution endowments exceeding $1 billion, applied only to the portion above that threshold
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Tax revenues would be deposited into a restricted receipt account and disbursed to the municipality where the taxed institution is predominantly located
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Funds must be used exclusively to hire, retain, and support behavioral health staff in public schools, including social workers, school psychologists, and behavioral health specialists
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"Situated" is defined as the municipality where the institution maintains a majority of its physical buildings or campus
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Act would take effect immediately upon passage
Legislative Description
Provides a tax upon the endowment of a private institution of higher education equal to two percent (2%) upon each dollar over $1,000,000,000.
Taxation
Last Action
Introduced, referred to House Finance
2/27/2026