Bill
Bill > S0031
RI S0031
RI S0031Exempts the trade-in value of pickup trucks weighing fourteen thousand pounds (14,000 lbs.) or less from sales and use tax.
summary
Introduced
01/23/2025
01/23/2025
In Committee
01/23/2025
01/23/2025
Crossed Over
Passed
Dead
06/20/2025
06/20/2025
Introduced Session
2025 Regular Session
Bill Summary
This act would exempt the trade-in value of pickup trucks weighing fourteen thousand pounds (14,000 lbs.) or less from sales and use tax. This act would take effect upon passage.
AI Summary
This bill amends the Rhode Island sales and use tax law to exempt the trade-in value of pickup trucks weighing fourteen thousand pounds (14,000 lbs.) or less from sales tax. Specifically, the bill modifies an existing provision in the tax code that currently allows a sales tax exemption for trade-in values of private passenger automobiles by expanding this exemption to include pickup trucks with a gross vehicle weight of 14,000 pounds or less. This means that when a person trades in a qualifying pickup truck towards the purchase of a new or used vehicle, the value of the trade-in will be subtracted from the purchase price before calculating the sales tax owed. The bill is straightforward and will take effect immediately upon passage, providing a tax benefit to consumers purchasing pickup trucks in Rhode Island by reducing the amount of sales tax they will need to pay.
Committee Categories
Budget and Finance
Sponsors (6)
Hanna Gallo (D)*,
Bob Britto (D),
Frank Ciccone (D),
Andrew Dimitri (D),
Brian Thompson (D),
David Tikoian (D),
Last Action
Committee recommended measure be held for further study (on 05/01/2025)
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/BillText25/SenateText25/S0031.pdf |
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