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6/2/2025
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MEDIA ADVISORY: Senate Finance Committee to meet twice this week to consider legislation and hear budget amendments, legislation
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STATE HOUSE – The Senate Finance Committee will be meeting twice this week to hear testimony on budget amendments, and to consider and hear legislation.
The committee is chaired by Sen. Louis P. DiPalma (D-Dist. 12, Middletown, Little Compton, Newport, Tiverton).
Today, Monday, June 2, at 5 p.m. in Room 211, the committee will consider the following bills:
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2025-S 0940A, sponsored by Sen. Jacob E. Bissaillon (D-Dist. 1, Providence), amends sections of law relative to historic tax credits, including increasing the maximum project credit and implementing requirements relative to following prevailing wage requirements.
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2025-S 1002A, sponsored by Senator Bissaillon, amends provisions related to the maximum project credit allowed under the Rebuild Rhode Island tax credit for certain qualified development projects.
The committee will also consider two local bond bills for Central Falls (2025-H 6077) and Block Island (2025-H 6099).
On Tuesday, June 3, at the RISE of the Senate (approximately 5:30 p.m.) in Room 211, the committee will hear testimony on the governor’s budget amendments 26 and 27.
Among the legislation scheduled to be heard are following bills:
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2025-S 0033, sponsored by Sen. Walter S. Felag Jr. (D-Dist. 10, Warren, Bristol, Tiverton), allows a modification to federal adjusted gross income of $20,000 of Social Security income for tax years beginning on or after January 1, 2025.
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2025-S 0182, sponsored by Sen. Hanna M. Gallo (D-Dist. 27, Cranston, West Warwick), allows a resident taxpayer to elect to have state taxes withheld from distributions from a mutual fund individual retirement account.
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2025-S 0616, sponsored by Sen. Samuel D. Zurier (D-Dist. 3, Providence), defines public-private partnerships and provides the framework to encourage the use of public-private partnerships for proposals for state purchases.
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2025-S 0895, sponsored by Sen. Todd M. Patalano (D-Dist. 26, Cranston), repeals the gross earnings tax on electric and gas companies.
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2025-S 1040, sponsored by Sen. Dawn Euer (D-Dist. 13, Newport, Jamestown), creates a new tax on gains from sale or exchange of real property held for short periods of time, 6 years or less, establishes a comprehensive framework to calculate and implement enforcement and provides imprisonment and/or fines for those who evade taxes.
The meetings will be televised by Capitol Television on: Cox Communications, channels 15 and 61 for high definition; i3Broadband (Formerly Full Channel) on 15; and Verizon, on channel 34. Senate committee hearings may also air on Channel 75 for Cox subscribers. Livestreaming is available at https://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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