H7505 • 2026

AN ACT RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT 2015 (Sunsets/discontinues the Jobs Development Act rate reduction as of July 1, 2026.)

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Stewart, Cotter, Tanzi, Ajello, Carson, Cruz, Speakman, Boylan, Kislak, Potter
Last action: 2026-04-08
Official status: Committee recommended measure be held for further study
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

AN ACT RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT 2015 (Sunsets/discontinues the Jobs Development Act rate reduction as of July 1, 2026.)

What This Bill Does

AN ACT RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT 2015 (Sunsets/discontinues the Jobs Development Act rate reduction as of July 1, 2026.)

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-04-08 Committee
Committee recommended measure be held for further study
2026-04-03 Rhode Island General Assembly
Scheduled for hearing and/or consideration (04/08/2026)
2026-02-04 Rhode Island General Assembly
Introduced, referred to House Finance

Official Summary Text

AN ACT RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT 2015 (Sunsets/discontinues the Jobs Development Act rate reduction as of July 1, 2026.)

Current Bill Text

Read the full stored bill text

H7505

2026 -- H 7505
========
LC004588
========

STATE OF RHODE ISLAND
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2026
____________
A N A C T
RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT
2015

Introduced By:
Representatives Stewart, Cotter, Tanzi, Ajello, Carson, Cruz, Speakman,
Boylan, Kislak, and Potter

Date Introduced:
February 04, 2026

Referred To:
House Finance
It is enacted by the General Assembly as follows:
1
SECTION 1. Section 44-48.3-12 of the General Laws in Chapter 44-48.3 entitled "Rhode
2
Island New Qualified Jobs Incentive Act 2015" is hereby amended to read as follows:
3

44-48.3-12. Discontinuance of further rate reductions and future beneficiaries under
4
the jobs development act.
5
(a) The rate reduction(s) provided pursuant to chapter 64.5 of title 42 shall be discontinued
6
effective July 1, 2015, except as provided in subsection (b) of this section
; provided, however, that
7
all rate reductions provided pursuant to chapter 64.5 of title 42 will discontinue no later than July
8
1, 2026
.
9
(b) Any company that has qualified for a rate reduction pursuant to chapter 64.5 of title 42
10
prior to July 1, 2015, shall be entitled to maintain the rate reduction in effect as of June 30, 2015,
11
and no additional rate reduction shall be permitted. All obligations of the company required under
12
chapter 64.5 of title 42 to retain a rate reduction shall remain in full force and effect.
13
SECTION 2. Chapter 42-64.5 of the General Laws entitled "Jobs Development Act" is
14
hereby amended by adding thereto the following section:
15

42-64.5-9. Sunset.

16

No credits shall be authorized to be reserved pursuant to this chapter after June 30, 2026.

1
SECTION 3. This act shall take effect upon passage.
========
LC004588
========

LC004588 - Page 2 of 3
EXPLANATION
BY THE LEGISLATIVE COUNCIL
OF
A N A C T
RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT
2015
***
1
This act would sunset/discontinue the Jobs Development Act rate reduction as of July 1,
2
2026.
3
This act would take effect upon passage.
========
LC004588
========

LC004588 - Page 3 of 3