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4/22/2024
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MEDIA ADVISORY: House Finance Committee meets three times this week to hear a variety of bills and budget amendments
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STATE HOUSE – The House Finance Committee will meet three times this week to hear testimony on a variety of legislation and several proposed budget amendments from the governor.
On Tuesday, April 23 at the RISE of the House (approximately 4:45 p.m.) in Room 35 of the State House the committee will meet to hear testimony on several bills.
Among the legislation scheduled to be heard are the following bills:
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2024-H 7208, sponsored by Rep. Megan L. Cotter (D-Dist. 39, Exeter, Richmond, Hopkinton), increases the income range up to $50,000 and tax credit up to $850 for elderly and disabled persons who own or rent their homes.
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2024-H 7403, sponsored by Rep. Scott A. Slater (D-Dist. 10, Providence), allocates, to the cities and towns of the state, a portion of state income taxes for new employees of not-for-profit healthcare institutions and private educational institutions.
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2024-H 7683, sponsored by Rep. Brian C. Newberry (R-Dist. 48, North Smithfield, Burrillville), imposes a conveyance tax on purchasers, of single-family residential properties, who are for-profit entities with over $15,000,000 in assets, at a rate of $6.90/$500, to be collected for housing production fund.
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2024-H 7922, sponsored by Rep. June S. Speakman (D-Dist. 68, Warren, Bristol), establishes a housing land bank program with the goal of creating affordable housing in Rhode Island. The housing land bank would have the authority to buy, receive and hold property in furtherance of this goal.
On Wednesday, April 11 at the RISE of the House in Room 35, the committee will meet to hear testimony on several proposed budget amendments from the governor.
The committee will hear the following budget amendments:
On Thursday, April 25 at 4 p.m. in Room 35, the committee will hear testimony on several bills.
Among the legislation scheduled to be heard are the following bills:
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2024-H 7249, sponsored by Rep. Arthur J. Corvese (D-Dist. 55, North Providence), restores longevity payments of five percent of base salary for employees after 10 years of service and increases to 10 percent of base salary after 20 years of service, beginning July 1, 2024.
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2024-H 7342, sponsored by Rep. Patricia A. Serpa (D-Dist. 27, West Warwick, Coventry), provides all retired teachers and all retired state employees a one-time stipend in the amount of three percent of the lesser of either the member's retirement allowance or $40,000 of the member's retirement allowance.
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2024-H 7343, sponsored by Rep. Deborah A. Fellela (D-Dist. 43, Johnston), allows teachers, state and municipal employees to retire upon the earlier of reaching age 60 with 30 years of service or the employee's retirement eligibility date under present state statutes.
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2024-H 7485, sponsored by Rep. William W. O’Brien (D-Dist. 54, North Providence), allows a modification for all taxable pension and/or annuity income includible in federal adjusted gross income for tax years beginning on or after January 1, 2025.
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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