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3/11/2024
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MEDIA ADVISORY: Senate Finance meets twice this week to hear department budgets, budget articles and legislation
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STATE HOUSE – The Senate Finance Committee will meet on Tuesday, March 12 at 4:30 p.m. in Room 211 of the State House to hear testimony on a department budget, budget articles and several pieces of legislation.
The committee is chaired by Sen. Louis P. DiPalma (D-Dist. 12, Middletown, Little Compton, Newport, Tiverton).
The committee will hear testimony on the FY 24 Supplemental and FY 25 budgets for the Department of Revenue.
The committee will also hear testimony on the following sections from Article 6 of the FY 25 budget:
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Section 1 – Repeal of additional liquor license fee
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Sections 3, 6 and 16-20 – Electronic Nicotine Delivery System taxation
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Section 11 – Delinquent Taxpayer list
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Section 12 – Corporate Tax changes
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Section 12 – Sales Tax Permit Fee elimination
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Sections 14 and 15 – Cigarette Tax
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Section 21 – Estate Tax filing fee elimination
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Section 22 – Income Tax pension modification increase
The committee will also hear testimony on the following bills:
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2024-S 2313, sponsored by Sen. Frank A. Ciccone (D-Dist. 7, Providence, Johnston), allows a modification up to $50,000 of taxable pension and/or annuity income includible in federal adjusted gross income for tax years beginning on or after January 1, 2025.
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2024-S 2593, sponsored by Sen. Leonidas P. Raptakis (D-Dist. 33, Coventry, West Greenwich), refunds to corporations with annual gross income of less than $400 the difference between the gross annual income and the $400 minimum tax imposed with the amount refunded capped at $400.
On Thursday, March 14 at the RISE of the Senate (approximately 4:45 p.m.) in Room 211 of the State House, the committee will hear a presentation by the Office of the General Treasurer and the Public Resources Advisory Group on the 2023 Debt Affordability Study. The presentation will focus on state government debt and debt capacity.
The committee will also hear testimony on the FY 24 Supplemental and FY 25 budgets for the Office of the General Treasurer. They will also hear testimony on Article 5 of the FY 25 budget which relates to the Capital Development Program.
Testimony will also be heard on 2024-S 2496, which relates to bond proposals for capital development and the “green economy,” and 2024-S 2579, which relates to bond proposals for capital development and the “cultural economy initiatives.” Both pieces of legislation were introduced by Chairman DiPalma.
The meetings will be televised live by Capitol Television, which can be seen on Cox channel 61, on i3Broadband channel 15 and on Verizon channel 34. It will be live streamed at capitoltvri.cablecast.tv.
For more information, contact:
Greg Pare, Director of Communications for the Senate
State House Room 112
Providence, RI 02903
(401) 276-5558
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