RI H8195

Creates a 50% tax credit for investments in Rhode Island small businesses with 99 or fewer employees, effective for tax years beginning January 1, 2027

Caps the credit at $3,000 per qualified business and $3,000 total per taxpayer per tax year

Qualified businesses must be headquartered in Rhode Island, have a majority of employees working in-state, receive at least 80% of gross revenues from in-state operations, and hold at least 80% of assets in-state

Prohibits credits for investments in businesses where the investor or a family member is an employee, owner, or has a preexisting fiduciary relationship

Unused credits may be carried forward for up to 10 tax years but are not refundable; the Rhode Island Commerce Corporation Strategic Fund certifies eligible investments