AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

Summary

The bill rewrites Rhode Island tax law to add new categories of property that are exempt from property tax, changes how corporate net income is calculated for the business corporation tax, and broadens sales and use tax exemptions to include newspapers, school meals, specific containers, and manufacturing purchases. It also defines “urban farmer” and “small farmer” and grants them exemptions from sales, property, and income taxes. The changes become law on July 1 2027.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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