summary
Introduced
02/24/2021
02/24/2021
In Committee
02/24/2021
02/24/2021
Crossed Over
Passed
Dead
06/30/2021
06/30/2021
Introduced Session
2021 Regular Session
Bill Summary
A N A C T RELATING TO TOWNS AND CITIES -- GENERAL POWERS *** This act would authorize municipalities to tax net tuition income for all private institutions 1 of K-12 or higher education. Financial aid would be exempt. No tax would be imposed on thirteen 2 thousand dollars ($13,000) annually for tuition for kindergarten through grade twelve (K-12) and 3 for twenty-five thousand dollars ($25,000) for postsecondary education and training. This act 4 would also require municipalities to include an explanation of the basis for tax exemption status 5 for property located in the municipality. Any person or legal entity in the state would be authorized 6 to challenge the exempt status 7 This act would take effect upon passage. 8 ======== LC001758 ========
AI Summary
This bill authorizes municipalities to tax the net tuition income of private K-12 and higher education institutions located within the municipality. The bill exempts the first $13,000 of annual net tuition income for K-12 schools and the first $25,000 for higher education institutions, with these exemption amounts adjusted annually based on the increase in the Nominal Gross Domestic Product. The bill also requires municipalities to include an explanation of the basis for tax-exempt status for property located in the municipality, and allows any person or legal entity in the state to challenge the exempt status of property.
Committee Categories
Budget and Finance
Sponsors (5)
Jose Batista (D)*,
John Lombardi (D)*,
David Morales (D)*,
Marcia Ranglin-Vassell (D)*,
Anastasia Williams (D)*,
Last Action
Committee recommended measure be held for further study (on 05/20/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | http://webserver.rilin.state.ri.us/BillText21/HouseText21/H5808.pdf |
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