Rhode Island legislation · 2026 Regular Session
Rhode Island H8611: AN ACT RELATING TO TAXATION -- TAXATION OF BANKS (Amends the apportionment and allocation of income for purposes of taxation relating to the taxation of banks.)
Status: Signed into law, June 23, 2026
What the bill says
From the introduced text, June 3, 2026:
2026 -- H 8611 ======== LC006561 ======== STATEOFRHODEISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ ANACT RELATING TO TAXATION -- TAXATION OF BANKS Introduced By: Representative Alex D. Marszalkowski Date Introduced: June 03, 2026 Referred To: House Finance It is enacted by the General Assembly as follows: SECTION 1. Section 44-14-14.1 of the General Laws in Chapter 44-14 entitled "Taxation of Banks" is hereby amended to read as follows: 44-14-14.1. Apportionment and allocation of income for purposes of taxation. (a) Except as specifically provided in this chapter a banking institution whose business activity is taxable both within and outside of this state shall allocate and apportion its net income as provided in §§ 44-14-14.1 -- 44-14-14.5. A financial institution organized under the laws of a foreign country, the Commonwealth of Puerto Rico, or a territory or possession of the United States whose effectively connected income (as defined under the federal Internal Revenue Code) is taxable both within this state and within another state, other than the state in which it is organized shall allocate and apportion its net income as provided in §§ 44-14-14.1 -- 44-14-14.5. (b) All income shall be apportioned to this state by multiplying this income by the apportionment percentage. The apportionment percentage is determined by adding the taxpayer's receipts factor (as described in § 44-14-14.3), …
Sponsors
- Alex Marszalkowski (D) · primary sponsor
Latest actions
- : Signed by Governor
- : Transmitted to Governor
- : Senate passed in concurrence
- : House read and passed
- : Placed on House Calendar
- : Committee recommends passage
- : Committee recommended measure be held for further study
- : Scheduled for consideration
- : Scheduled for hearing and/or consideration
- : Introduced, referred to House Finance
Votes
- House Seq #451: PASSAGE (June 10, 2026): 71 yea, 0 nay, passed
- House Committee on Finance: Passage (June 9, 2026): 10 yea, 0 nay, passed
Subjects: TAXATION
Common questions
- What is H8611?
- H8611 is a bill in the Rhode Island Legislature (2026 Regular Session): AN ACT RELATING TO TAXATION -- TAXATION OF BANKS (Amends the apportionment and allocation of income for purposes of taxation relating to the taxation of banks.).
- What is the status of H8611?
- Signed into law as of June 23, 2026. Latest action: Signed by Governor (June 23, 2026).
- Who sponsored H8611?
- Alex Marszalkowski (D).
- Where is the official record for H8611?
- On the Rhode Island Legislature website: http://webserver.rilegislature.gov/BillText/BillText26/HouseText26/H8611.pdf
Source: official Rhode Island record. Tracked by Delilah, AI for legislation across all 50 states and Congress.