Bill
Bill > H6010
RI H6010
RI H6010Allows the city of Providence to impose an additional conveyance tax of three quarters of one percent (0.75%) on sale of any real property in excess of one million dollars ($1,000,000).
summary
Introduced
02/28/2025
02/28/2025
In Committee
02/28/2025
02/28/2025
Crossed Over
Passed
Dead
06/20/2025
06/20/2025
Introduced Session
2025 Regular Session
Bill Summary
This act would authorize the city of Providence to impose an additional conveyance tax of three quarters of one percent (0.75%) on the sale of any real property in excess of one million dollars ($1,000,000). This act would take effect upon passage.
AI Summary
This bill allows the city of Providence to impose an additional conveyance tax of three-quarters of one percent (0.75%) on real estate sales where the sale price exceeds one million dollars ($1,000,000). Conveyance taxes are essentially transaction fees paid when property is transferred from one owner to another. The new tax would be paid by the property seller (unless otherwise agreed) at the time the property sale is executed, recorded, or delivered. The tax would only apply to property sales within Providence city limits and would be retained by the city to generate additional local revenue. The bill amends an existing state law governing real estate conveyance taxes by adding a new subsection (h) to section 44-25-1 that specifically authorizes Providence to implement this additional local tax. The tax is optional, meaning the city would need to pass a local ordinance to actually implement it, and it would apply to the entire sale price above $1 million. The bill includes standard language stating that it will take effect immediately upon passage.
Committee Categories
Budget and Finance
Sponsors (6)
Rebecca Kislak (D)*,
Edith Ajello (D),
Jose Batista (D),
David Morales (D),
Brandon Potter (D),
Enrique Sanchez (D),
Last Action
Committee postponed at request of sponsor (05/13/2025) (on 05/09/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://status.rilegislature.gov/ |
BillText | https://webserver.rilegislature.gov/BillText25/HouseText25/H6010.pdf |
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