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5/22/2017 MEDIA ADVISORY: House Finance meets Tuesday, Wednesday, and Thursday to hear a variety of bills
STATE HOUSE – The House Committee on Finance will be meeting three times this week to hear testimony on a variety of legislation before the committee.

On Tuesday, May 23 at the RISE of the House in Room 35 of the State House, the Finance Committee will hear testimony on the following bills:

·         2017-H 5428, sponsored by Rep. Michael A. Morin (D-Dist. 49, Woonsocket), allows nursing facilities to suspend payment of gross patient revenue assessments until such time as the department of health human services provides any reimbursement owed to the nursing facilities.

·         2017-H 5021, sponsored by Rep. Deborah L. Ruggiero (D-Dist. 74, Jamestown, Middletown), exempts a corporation from the minimum corporate tax for the first three years following the date of incorporation.

·         2017-H 5073, sponsored by Rep. Robert B. Lancia (R-Dist. 16, Cranston), provides that the taxation of military service pensions for purposes of the Rhode Island personal income tax would be reduced and phased out over a 5 year period from 2017 to 2021.

·         2017-H 5141, sponsored by Rep. Aaron Regunberg (D-Dist. 4, Providence), establishes a surtax on the business corporation tax for publicly traded corporations subject to SEC disclosure and reporting requirements, if corporation's ratio of compensation for its CEO to median worker is equal to or greater than 100 to 1.

·         2017-H 5170, sponsored by Rep. James N. McLaughlin (D-Dist. 57, Cumberland, Central Falls), requires active duty military personnel receive daycare services for their dependents at state expense.

·         2017-H 5358, sponsored by House Minority Leader Patricia L. Morgan (R-Dist. 27, West Warwick, Coventry, Warwick), exempts from the estate tax all property up to the value of $5 million.

·         2017-H 5360, sponsored by Rep. Stephen R. Ucci (D-Dist. 42, Johnston, Cranston), reduces the minimum corporate tax from $400 to $50.

·         2017-H 5370, sponsored by Rep. Jason Knight (D-Dist. 67, Barrington, Warren), defines as "disabled," persons receiving veterans' affairs disability benefits paid by the federal government for purposes of property tax relief.

·         2017-H 5777, sponsored by Rep. Lauren H. Carson (D-Dist. 75, Newport), revises the financial incentives and tax infrastructure in connection with motion picture productions by utilizing rebates instead of tax credits.

On Wednesday, May 24 at the RISE of the House in Room 35 of the State House, the Finance Committee will hear testimony on the following bills:

·         2017-H 5069, sponsored by Representative Regunberg, repeals the "Rhode Island Health Care Reform Act of 2004 – Health Insurance Oversight" as well as the "Rhode Island Health Benefit Exchange, and establishes the Rhode Island comprehensive health insurance program.

·         2017-H 5088, sponsored by Rep. Stephen M. Casey (D-Dist. 50, Woonsocket), includes home schooled students in the program to provide the PSAT and SAT free of charge to all Rhode Island public school students.

·         2017-H 5460, sponsored by Rep. John G. Edwards (D-Dist. 70, Tiverton, Portsmouth), allows cities, towns, and school districts to cease implementation of state mandates up to 50% of reimbursement shortfall.

·         2017-H 5749, sponsored by Rep. Gregg Amore (D-Dist. 65, East Providence), amends the maintenance of effort provisions used to determine the minimum contribution for local school aid.

·         2017-H 5778, sponsored by Rep. Joseph M. McNamara (D-Dist. 19, Warwick, Cranston), establishes the "Rhode Island Livable Home Tax Credit Act" and would provide for its administration.

·         2017-H 5807, sponsored by Representative Ruggiero, creates the young adult voluntary extension of care program that would extend the age of foster care from age 18 to age 21 and would provide a range of programs and services to carry out the purpose of the act.

On Thursday, May 25 at the RISE of the House in Room 35 of the State House, the Finance Committee will hear testimony on the following bills:

·         2017-H 5288, sponsored by Rep. Julie A. Casimiro (D-Dist. 31, North Kingstown, Exeter), provides an appropriation of state funds to cities and towns who are members of NBMTF for maintenance of boats servicing Narragansett Bay.

·         2017-H 5331, sponsored by Rep. Jean Philippe Barros (D-Dist. 59, Pawtucket), repeals the provisions of the general laws allowing deferred deposit providers, also known as "payday lenders."

·         2017-H 5782, sponsored by Minority Leader Morgan, creates a trust fund, funded by road and bridge tolls, the gasoline tax and fees generated by the division of motor vehicles to pay for the maintenance and construction of state roads and bridges.

·         2017-H 6109, sponsored by Minority Leader Morgan, repeals the provisions of the general laws which created the "Rhode Island Bridge Replacement, Reconstruction, and Maintenance Fund Act of 2016" ("Rhode Works"), which would have imposed tolls on large commercial trucks.

·         2017-H 6128, sponsored by Rep. Kenneth J. Mendonca (R-Dist. 72, Portsmouth, Middletown), prohibits the Commerce Corporation, without General Assembly approval or resolution, from providing leases, loan guarantees, grants or any other financial assistance, for any baseball park, recreational facility or any ancillary facility development.

For more information, contact:
Andrew Caruolo, Publicist
State House Room 20
Providence, RI 02903