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RI S2817
Bill
Status
3/4/2026
Primary Sponsor
Jessica de la Cruz
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AI Summary
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Expands eligibility for scholarship tax credits to include individuals in addition to business entities, with contribution limits of $200,000 for single filers and $400,000 for married couples filing jointly (business entities capped at $250,000).
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Increases the total annual tax credit cap from $1.6 million to $5 million in fiscal year 2027, with future increases tied to annual per-pupil spending inflation adjustments.
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Raises tax credit rates from 75% to 85% for single-year contributions and from 90% to 99% for two-year contribution plans.
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Allows unused tax credit allocation from the current fiscal year to roll over and be added to the next fiscal year's aggregate amount.
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Designates $750,000 of contributions to fund scholarships for economically disadvantaged students and caps pre-K student scholarships at $250,000.
Legislative Description
Includes individuals as contributors. Increases annual credit cap by percentage amount of unused credits. Increases the tax credit rate percentage. Establishes scholarships of $750,000 to disadvantaged students and $250,000 to pre-K students.
Taxation
Last Action
Introduced, referred to Senate Finance
3/4/2026