Bill
Bill > H7487
RI H7487
RI H7487Increases the net taxable estate exemption to four million dollars ($4,000,000) for deaths that occur on or after January 1, 2025.
summary
Introduced
02/02/2024
02/02/2024
In Committee
02/02/2024
02/02/2024
Crossed Over
Passed
Dead
06/30/2024
06/30/2024
Introduced Session
2024 Regular Session
Bill Summary
This act would increase the net taxable estate exemption to four million dollars ($4,000,000) for deaths that occur on or after January 1, 2025. This act would take effect upon passage.
AI Summary
This bill increases the net taxable estate exemption to four million dollars ($4,000,000) for deaths that occur on or after January 1, 2025. The bill also maintains the existing Rhode Island credit against the state estate tax and provides for annual adjustments to that credit based on the Consumer Price Index starting in 2026. The bill will take effect upon passage.
Committee Categories
Budget and Finance
Sponsors (9)
Greg Costantino (D)*,
Samuel Azzinaro (D),
Jackie Baginski (D),
Edward Cardillo (D),
Michael Chippendale (R),
Doc Corvese (D),
Raymond Hull (D),
Brian Rea (R),
Joseph Solomon (D),
Last Action
Committee recommended measure be held for further study (on 05/23/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://status.rilegislature.gov/ |
| BillText | https://webserver.rilegislature.gov/BillText24/HouseText24/H7487.pdf |
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