Bills Introduced to the Rhode Island Senate (Finance Committee), February 8-10

Significant Rewrites with Statewide Impact

S0195Provides for biannual budgeting, two new committees in each chamber with budgetary duties, new legislative staff for reviewing the budget, and changes in the Governor’s role in budgeting.

Targeted Changes with Statewide Impact

S0189Makes an additional 2% bonus, on top of the calculated amount for regional school districts, a permanent part of the state education aid “funding formula”. Companion to H5246
S0190Applies the same sales-tax exemptions to pickup trucks under 10,000 lbs that are applied to automobiles. Companion to H5250
S0191From the official description: “This act would increase the refundable state earned income credit from fifteen percent (15%) to one hundred percent (100%)”.
S0192Authorizes the town of Coventry to issue bonds “to pay the uninsured portion of any [non-pension related] court judgment or settlement”. Companion to H5233
S0193Business tax changes (to be discussed more, stay tuned).
S0194Would allow municipalities to tax “real and personal property” of colleges and universities within their borders.
S0196From the official description: “This act would subject the recording of attachments, executions and mechanics’ liens to a $4.00 surcharge for the benefit of the Rhode Island Historical Records Trust”.
S0197“Senators, representatives and general office holders shall contribute twenty percent (20%) towards the premium for health care coverage paid for by the State of Rhode Island”.
S0198Adds an additional 3% income tax on income greater than $500,000.
S0199Business tax changes (to be discussed more, stay tuned).

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