Rhode Island legislation · 2026 Regular Session
Rhode Island S2833: AN ACT RELATING TO TAXATION -- RHODE ISLAND LOCAL INVESTMENT TAX CREDIT ACT (Provides a tax credit to a taxpayer that makes a qu
Status: Failed, May 28, 2026
AN ACT RELATING TO TAXATION -- RHODE ISLAND LOCAL INVESTMENT TAX CREDIT ACT (Provides a tax credit to a taxpayer that makes a qualified investment in a qualified business.)
What the bill says
From the introduced text, March 4, 2026:
2026 -- S 2833 ======== LC005425 ======== STATEOFRHODEISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ ANACT RELATING TO TAXATION -- RHODE ISLAND LOCAL INVESTMENT TAX CREDIT ACT Introduced By: Senators Valverde, Ciccone, Lauria, DiPalma, Acosta, Bissaillon, Kallman, Felag, Pearson, and Quezada Date Introduced: March 04, 2026 Referred To: Senate Finance It is enacted by the General Assembly as follows: SECTION 1. Title 44 of the General Laws entitled "TAXATION" is hereby amended by adding thereto the following chapter: CHAPTER RHODE ISLAND LOCAL INVESTMENT TAX CREDIT ACT 44-73-1. Short title. This chapter shall be known and may be cited as the "Rhode Island Local Investment Tax Credit Act". 44-73-2. Legislative intent. It is the intent of the general assembly to annually appropriate sufficient funds from the state general fund to fully compensate for any loss of revenue resulting from the enactment of this chapter. 44-73-3. Definitions. As used in this chapter: (1) "Family member" means an individual who is the spouse, mother, father, brother, sister, child, stepparent, stepchild, stepbrother, stepsister, grandparent, grandchild, legal ward, or a legally appointed guardian with a certified letter of guardianship, of the investor. (2) "Qualified business" means a business that employs ninety-nine (99) or fewer employees and that the Rhode Island commerce corporation strategic fund certifies as in compliance with all of the following at …
Sponsors
- Bridget Valverde (D, SD-035) · primary sponsor
- Frank Ciccone (D, SD-007)
- Pamela Lauria (D, SD-032)
- DiPalma, Louis (D, SD-012)
- Jonathon Acosta (D, SD-016)
- Jacob Bissaillon (D, SD-001)
- Meghan Kallman (D, SD-015)
- Walter Felag (D, SD-010)
- Ryan Pearson (D, SD-019)
- Ana Quezada (D, SD-002)
Latest actions
- : Committee recommended measure be held for further study
- : Scheduled for hearing and/or consideration
- : Committee postponed at request of sponsor
- : Scheduled for hearing and/or consideration
- : Introduced, referred to Senate Finance
Votes
- Senate Committee on Finance: Passage (May 28, 2026): 6 yea, 0 nay, passed
Subjects: TAXATION
Common questions
- What is S2833?
- S2833 is a bill in the Rhode Island Legislature (2026 Regular Session): AN ACT RELATING TO TAXATION -- RHODE ISLAND LOCAL INVESTMENT TAX CREDIT ACT (Provides a tax credit to a taxpayer that makes a qu.
- What does S2833 do?
- AN ACT RELATING TO TAXATION -- RHODE ISLAND LOCAL INVESTMENT TAX CREDIT ACT (Provides a tax credit to a taxpayer that makes a qualified investment in a qualified business.)
- What is the status of S2833?
- Failed as of May 28, 2026. Latest action: Committee recommended measure be held for further study (May 28, 2026).
- Who sponsored S2833?
- Bridget Valverde (D, SD-035), with 9 co-sponsors.
- Where is the official record for S2833?
- On the Rhode Island Legislature website: http://webserver.rilegislature.gov/BillText/BillText26/SenateText26/S2833.pdf
Source: official Rhode Island record. Tracked by Delilah, AI for legislation across all 50 states and Congress.