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5/5/2025
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MEDIA ADVISORY: House Finance Committee to meet twice this week to hear legislation and budget amendments
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STATE HOUSE – The House Finance Committee will be meeting twice this week to hear testimony on a variety of legislation, including bills relating to taxation, and budget amendments.
On Tuesday, May 6, at the RISE of the House (approximately 5 p.m.) in Room 35 of the State House the committee will hear testimony on a variety of legislation, including several bills relating to taxation.
Among the legislation scheduled to be heard are the following bills:
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2025-H 5473, sponsored by Rep. Karen Alzate (D-Dist. 60, Pawtucket, Central Falls), creates an additional tax rate of 3% on taxable income over $625,000, and the bill would apply to tax years 2026 and thereafter, and not retroactively.
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2025-H 5474, sponsored by Rep. Mia A. Ackerman (D-Dist. 45, Cumberland, Lincoln), phases in modifications to federal adjusted gross income over a four-year period for Social Security income, from 20% up to 80%, beginning on or after January 1, 2026.
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2025-H 5760, sponsored by Rep. William W. O’Brien (D-Dist. 54, North Providence), raises the earned-income tax credit from 20% to 30% for the tax years 2026 and beyond.
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2025-H 5783, sponsored by Rep. Patricia A. Serpa (D-Dist. 27, West Warwick, Coventry), increases the net taxable estate exemption to $4 million for deaths that occur on or after January 1, 2026.
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2025-H 6097, sponsored by Rep. Alex S. Finkelman (D-Dist. 74, Jamestown, Middletown), creates qualified data centers and tax exemptions.
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2025-H 6256, sponsored by Rep. John J. Lombardi (D-Dist. 8, Providence), repeals the property tax and sales and use tax exemption for boats.
On Wednesday, May 7, at 4 p.m. in Room 35 of the State House, the committee will hear testimony on the following budget amendments:
The meetings will be televised 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:
Larry Berman, Communications Director for the Office of the Speaker
State House Room 322
Providence, RI 02903
(401) 222-2466
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