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Centreville Bank to Open New Full-Service Branch in Warren on July 1

6/26/2025

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 This location will be Centreville Bank’s second full-service branch in the East Bay.
 Warren, R.I. (June 25, 2025) – Centreville Bank is pleased to announce the grand opening of its new, full-service branch in Warren, Rhode Island, located at 521 Main Street. The branch will officially open to the public on Tuesday, July 1, 2025, marking another step in the bank’s expansion and commitment to serving the East Bay community.
 This new location builds on Centreville Bank’s current presence in Warren through its Loan Production Office (LPO), which is located at 951 Main Street and continues to support the area's lending needs.
 The decision to open a full-service branch follows the closure of another financial institution at this location earlier this year.
 “When another bank closed its doors in mid-March, it left a real void in the Warren community’s options for financial service providers,” said Lee Merrill, Executive Vice President and Chief Lending Officer at Centreville Bank. “We’re proud to step in with a strong team and a community-first approach to meet those needs and serve both residents and businesses.”
 Centreville’s new Warren team is comprised of seasoned professionals with deep roots in the East Bay banking community: 
  • Nancy Coelho, Branch Manager
  • Paul Sousa, VP, Commercial Lender (on-site)
  • Gina Helm, VP, Head of Residential Lending
  • Brenden Vadeboncoeur and Shaelyn Ferreira, Bankers
  •  
Together, they bring years of trusted experience and a shared commitment to exceptional customer service.
 “Our Warren team is made up of banking professionals who understand this community and are passionate about delivering personal, knowledgeable service,” said Harold M. Horvat, President, CEO, and Chairman of the Board of Centreville Bank. “They reflect the values we stand for at Centreville Bank--local decision-making, best-in-class customer service, and a long-term commitment to helping people make progress toward achieving their financial goals.”
The new branch at 521 Main Street will offer a full range of personal and business banking services, including checking and savings accounts, residential and commercial lending, online and mobile banking, an ITM/ATM and more.
For more information, please visit www.centrevillebank.com.
 About Centreville Bank
Founded in 1828 and headquartered in West Warwick, Rhode Island, Centreville Bank is a full-service mutual bank with over $2.8 billion in assets and 22 locations throughout Rhode Island and eastern Connecticut. Centreville understands the unique financial needs of individuals, families and businesses and offers a wide range of personal banking and commercial banking products and services including checking accounts, savings accounts, CDs, money market accounts, mortgages, business loans and more. Centreville is committed to its employees and the communities it serves, always striving to help people make progress and achieve their financial goals. That is progress on purpose. Visit centrevillebank.com, follow us on Facebook, LinkedIn and Instagram, or come into a branch or office to learn more.
 
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Washington Trust Named Rhode Island's Best-In-State Bank by Forbes for Seventh Year

6/26/2025

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Picture

 Washington Trust has been recognized as Rhode Island’s Best-In-State Bank for 2025 by Forbes, marking the seventh consecutive year the bank has appeared on the list, and the third consecutive year they have been ranked #1.
The annual Forbes Best-In-State Banks list, compiled in partnership with market research firm Statista, evaluates financial Institutions based on customer satisfaction, trust, fees, digital services, and financial advice.
“We are deeply honored to be named Rhode Island’s Best-In-State Bank again this year,” said Edward O. “Ned” Handy III, Washington Trust Chairman and CEO. “This recognition reflects the Bank’s two and a quarter centuries of unwavering commitment to delivering exceptional banking experiences, fostering trust, and supporting the financial wellbeing of our customers and communities. By combining innovative technology for convenience and accessibility, with the personalized service of our dedicated team, we strive to meet the evolving needs of those we serve. We thank our employees for their hard work, and our customers for their continued loyalty that has endured for 225 years.”
Forbes’ 2025 ranking methodology included surveys of more than 26,000 U.S. consumers, assessing banks on criteria such as customer service, trustworthiness, accessibility, and transparency. Washington Trust’s consistent dedication to personalized service, innovative digital solutions, and community engagement has solidified its position as a leader in Rhode Island’s banking sector.
ABOUT WASHINGTON TRUST®
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.
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Under the Dome: House Finance Committee Passes Budget

6/16/2025

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House Finance Committee Passes Budget
The House Finance Committee passed a budget at about 11:30 p.m. Tuesday night. The $14.334 billion budget includes $45 million for primary care doctors, $38 million in extra money for hospitals, $12 million for nursing homes, and more money for education than provided for in the Governor’s budget. During the media briefing, the Speaker said, “Do I want to come back in October? No.” but he acknowledged it might be necessary if the federal government makes certain cuts to state grants or to state programs where federal funding is significant. The full House will vote on the budget Tuesday, June 17th.
How did the House Finance budget find revenues for these initiatives? Article 5 SubA contains many new tax proposals including the following:
· Whole homes that are rented for less than thirty days would be subject to the hotel tax. Currently, those properties are exempt.
· The hotel tax increased from 1% to 2%
· Real estate conveyance tax – the budget includes a 63% increase in the real estate conveyance tax which is paid at the time of sale of a property. Prior to 2021, all properties were taxed at $2.30 per $500 of sale price. In 2021, the General Assembly increased the tax on residential properties selling at a price over $800,000 – adding another $2.30 per $500 for the portion of the selling price over the threshold (sometimes referred to as Tier 2 properties). This year, an additional increase of 63% is included on both Tier 1 and Tier 2 properties. As an example, the median price for a Rhode Island home is $512,750. Under current law a seller of that home would pay $2,358.65 in conveyance tax at the time of sale. Article 5 SubA raises that tax to $3,845.63; and increase of $1,486.98. A home sold for $900,000 today would cost the seller $4,600 in conveyance tax. Article 5 SubA raises it to $7,500. The tax increase is estimated to raise $13.5 million in this fiscal year and $18.7 million in FY27.
· Sales tax is applied to short-term parking up to one month. Estimated to generate $1.6 million
· Gas tax increases by 2 cents per gallon with a majority of the revenues going to RIPTA. The existing gas tax law has an automatic adjustment every two years. On July 1, 2025, the gas tax will rise to $.38 a gallon (plus the $.01 per gallon environmental fee). The proposed budget will raise the gas tax to $.40 a gallon (plus $.01 environmental fee) for a total state tax of $.41 a gallon. Massachusetts gas tax is currently $.24 per gallon. Connecticut has a $.25 per gallon gas tax, but also has an 8.1% tax on gross earnings at the wholesale level, making it more difficult to compare.
· The Governor’s proposed tax on digital advertising was not included in the House budget. This tax was passed in one state and that state is in costly litigation while unable to collect the tax. The Speaker made it clear he was unwilling to rely on revenue from a tax structure that would be challenged in court leaving a hole in the budget.
· A new state tax on non-owner-occupied homes is included in this budget. Some media outlets have dubbed this the “Taylor Swift” tax. The language defines “non-owner occupied as “the residential property does not serve as the owner’s primary residence and is not occupied by the owner of the property for a majority of days during a given taxable year.” If the property has an assessed at a value over $1 million, and the property is not rented for more than 183 days during the previous taxable year and was subject to the
room reseller tax, or lodgings tax. The tax amounts to $2.50 for each $500 of assessed value in excess of $1 million. The tax is levied in addition to all other taxes assessed. The tax can be paid in four quarterly payments, with the first installment due September 15th of a given taxable year. To date, no estimate of revenue to be collected has been published.
· There are a number of fee increases in the budget: a $1 increase in the technology surcharge fee for vehicle registrations, a new $200 fee each time a battery electric vehicle is registered, $100 for a plug-in hybrid registration, a $50 fee for a hybrid electric vehicle, increased penalties for various law infractions.
One positive note in the budget – the Workers Compensation Administrative Fund was taken out of the Indirect Cost Recovery program. Currently the Department of Labor and Training (DLT) keeps 10% of the Workers’ Compensation Administrative Fund dollars paid by businesses. The Governor proposed to increase the percentage to 15%. The House budget eliminates the diversion of funds to DLT – keeping $3.6 million in the workers compensation administrative fund ultimately saving businesses money.




TCI Bill Amended on the Senate Floor Last Week
S.974aa, An Act Relating to Labor and Labor Relations – Temporary Disability Insurance – Contributions, was amended on the Senate floor to remove the language increasing the maximum number of weeks an employee can take for Temporary Care Giver (TCI) reasons. The bill originally proposed to increase the weeks to ten weeks in 2027 and twelve weeks in 2028. Under current law, employees may take up to seven weeks off in 2025 and eight weeks off starting January 1, 2026 to care for various family members. The Senate noted business concerns surrounding the challenges finding replacement employees as the reason for the amendment. The senate did add “siblings” to the language meaning employee can use TCI to care for siblings. https://webserver.rilegislature.gov/Billtext25/SenateText25/S0974aa.pdf
The House version – H.6066 is scheduled for a vote Monday in House Labor. The bill is posted in a SubA form to mirror the changes made on the Senate floor.
This Week At the State House
The General Assembly hopes to complete its work either Wednesday or Friday. The Juneteenth holiday prevents the legislature from coming into session Thursday. This edition of Advocacy in Action includes legislation scheduled for hearing or vote as of Sunday. The House and Senate may add bills throughout the week. If the legislative work is mpleted this week, bills will be transmitted to the Governor periodically over the following few weeks. The Chamber will send out a final legislative wrap-up once that process is concluded, providing a list of new laws business need to consider.
Monday, June 16th
Labor Relations Board
S.124 SubB and H.5187 SubA, Acts Relating to Labor and Labor Relations – Labor Relations Act changes the definition of “employee” under Rhode Island law. Members of the unions are pushing this bill as a means to head off any changes in the National Labor Relations Board. S.124 SubA was amended as the Chamber requested related to the definition of “employee.” The new definition reads “"Employee" specifically includes any teaching assistants, research assistants, fellows, residential assistants and proctors who perform services for an employer or are under an employer's control or right of control, in return for payment or other compensation, notwithstanding whether the employee is a student, or the supervised teaching, research, or other services are a component of their academic development.” These individuals are currently covered in Rhode Island. The S.124 SubB version and the new SubA version of 5187 proposes to eliminate language that defines the “right of control.” See https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/H5187A.pdf and https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/S0124B.pdf for the new language to be voted on Monday.


Captive Audience Bill
H.5506 SubA and S.126 SubA are scheduled for a vote Monday. These bills, Acts Related to Labor and Labor Relations – Employe Free Speech Rights, limit the First Amendment and Fourteenth Amendments rights of employers by barring them from holding mandatory meetings with employees to discuss any issue covered under the bill’s definition of “political matters.” The definition was tweaked only slightly. “Political matters” is defined as, “topics that are unrelated to the employer's business or business activities, such as subjects relating to elections for political office, political parties, proposals to change legislation or regulations which are not directly related to the employer's business, and a decision whether to join or support any political party or political, civic, community, fraternal or labor organization.” It is this very situation that was anticipated, and addressed by Congress under the Taft-Hartley Act of 1947. That federal law specifically allows employers to hold such meetings provided they do not threaten employees in the meeting. Both H.5506 SubA and S.126 SubA undermine the employer employee relationship. The amended language can be found at: http://webserver.rilegislature.gov/BillText/BillText25/Proposed25/H5506A.pdf and https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0126A.pdf
Retail Sales to Seniors
H.5831, An Act Relating to Commercial Law – Senior Savings Protection Act, requires any business engaged in the sale of goods or services who offers a discount to its customers for utilizing automatic payment systems, via ACH or EFT or similar payment systems, to provide the same discount to any person who is 65 years of age or older who makes a payment using paper checks. The bill is scheduled for a vote in the House Corporations Committee. https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H5831.pdf
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Under the Dome: Advocacy in Action

6/9/2025

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This Week At the State House
The House posted the Budget for consideration in the House Finance Committee on both Tuesday and Wednesday. This will allow the committee to use Wednesday as a backup in the event the budget documents are not ready Tuesday. Legislative bills continue to post as the House and Senate reach agreements on some bills while opposing versions of others linger leaving their resolution in question. The following bills are posted for consideration and/or hearing this week.
Tuesday, June 10th
FY2026 Budget
House Finance has scheduled, H.5076, An Act Making Appropriations for the Support of the State for Fiscal year Ending June 30, 2026. The hearing will be live streamed, although the starting time is difficult to predict as it is dependent upon completion of documents. Livestreaming is available at https://capitoltvri.cablecast.tv

Noncompete Agreements
S.302, An Act Relating to Labor and Labor Relations – Rhode Island Noncompetition Agreement Act, is scheduled for a vote At the Rise in room 313. Current law bans businesses from entering into noncompete agreements with individuals that make 250% of the federal poverty level or less ($39,125 for a single person). S.302 would strike this language, making noncompete agreements illegal unless it is entered into as part of a sale of the business. The bill adds a provision allowing businesses to enter into agreements with employees not to share customer lists and future business plans. If an employee violates such an agreement, the employer can be awarded injunctive relief, compensatory damages, punitive damages, attorneys' fees and costs. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0302.pdf
Minimum Wage Increase
S.125, An Act Relating to Labor and Labor Relations – Minimum Wages, will be voted on in the Senate Labor Committee. This bill calls for five years of consecutive $1 increases, reaching $20 an hour in 2030. Last week the House passed a two-year increase of $1 per year, reaching $17 in 2027. The Chamber has been actively working on this issue with members of the General Assembly and Labor. Last Friday night, the Senate posted a SubA for S.125 to mirror the House two-year proposal. Massachusetts currently has a minimum wage of $15. Connecticut’s minimum wage is $16.35 with an automatic annual increase tied to the Employment Cost Index that is re-calculated each October 15th. https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/S0125A.pdf


“Mini” Employee Handbook
H.5679, An Act Relating to Labor and Labor Relations – Payment of Wages, is scheduled for a vote in amended form. The bill changes an employer’s responsibilities as it relates to providing a type of “mini employee handbook” (in English) to employees when they are hired. The information must include: rate or rates of pay and the basis for pay (hour, shift, day, week, salary, piece, commission, or other method), allowances, if any, for meals and lodging; employer's policy on sick, vacation, personal leave, holidays and hours; employee's employment status and whether the employee is exempt from minimum wage and/or overtime; a list of deductions that may be made from the employee's pay; number of days in the pay period, the regularly scheduled payday, and the payday on which the employee will receive the first payment of wages earned; legal name of the employer and the operating name of the employer, if different from its legal name; physical address of the employer's main office or principal place of business, and its mailing address if different; and telephone number of the employer. If passed, and signed by the Governor, the new law would go into effect upon passage. https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/H5679A.pdf
Outdoor Dining Temporary Building
H.6392, An Act Relating to Towns and Cities – Outdoor Dining Act, is scheduled for hearing, and perhaps quick passage. The bill allows a food service establishment to provide temporary outdoor dining services any time a building or other structure used as a food service establishment is rendered uninhabitable by virtue of a casualty i.e. fire or flood. The temporary building could be used for 18 months or until the building is fit for occupancy. If passed, the law would sunset June 30, 2027. This bill is directed at the Matunuck Oyster Bar. https://status.rilegislature.gov/documents/agenda-21107.aspx
The Senate version is also scheduled for hearing and possible consideration Tuesday in the Senate Committee on Housing & Municipal Government https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S1139.pdf
Wednesday, June 11th
FY2026 Budget
House Finance has scheduled a second hearing date and time if needed. H.5076, An Act Making Appropriations for the Support of the State for Fiscal year Ending June 30, 2026, could be voted
on 5:00pm on June 11th, if the budget does not receive a vote Tuesday. The hearing will be live streamed. Livestreaming is available at https://capitoltvri.cablecast.tv
The following new bills have been filed:
House Bill No. 6387 Felix, Cortvriend, Diaz, Kislak, Corvese, Handy, Morales, Alzate, Stewart, Hull, AN ACT RELATING TO MOTOR AND OTHER VEHICLES -- RIDESHARE OR TRANSPORTATION NETWORK COMPANY VEHICLE SURCHARGE (Imposes a seventy-five cent (0.75) surcharge on fares charged by rideshare companies as well as an account to benefit RIPTA from the payment of sales taxes collected from rideshares.) https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H6387.pdf
Senate Bill No. 1131 Zurier, Bissaillon, AN ACT RELATING TO TAXATION -- SALES AND USE TAXES--LIABILITY AND COMPUTATION (Authorizes municipalities to impose a ticket tax on ticket sales for venues large enough to hold at least eight hundred (800) patrons, seated, of seven percent (7%) per ticket. The tax shall be redistributed to the locality where the venue is located.) https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S1131.pdf
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Under the Dome -Advocacy in Action

6/2/2025

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This Week At the State House
We are awaiting the posting of the FY2026 budget in the House Finance Committee. The Committee is hoping to take it up this week for a vote. If that happens, the full House will debate and vote on the budget seven days later in accordance with the House rules. Meanwhile other committees are busy passing amended forms of bills that were heard over the last five months. Amendments to bills can be posted online 24 hours before the vote is taken and bills can be amended on the floor as well. The following is a list of bills scheduled for a vote or a hearing this week as of Sunday, June 1, 2025.
Monday, June 2nd
Senate Labor & Gaming Committee at 5:30 – Votes Only
S.70, An Act Relating to Payment of Wages, changes an employer’s responsibilities as it relates to providing employees with statements of earnings. Today employers must include the hours worked, deductions from gross earnings and an explanation of those deductions. The legislation adds items such as the last four digits of the social security number, deduction explanations in “understandable language and form,” the employer’s address and name, and output information if pay is based on quantity. The bill was altered compared to last year’s bill to clarify that employers must only keep records for three years which is consistent with current law. It also requires employers to provide a type of “mini employee handbook” to employees. The sponsor did change the bill to include English as the language for the handbook. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0070.pdf
S.124, An Act Relating to Labor and Labor Relations – Labor Relations Act changes the definition of “employee” under Rhode Island law. Members of the unions are pushing this bill as a means to head off any changes in the National Labor Relations Board. S.124 is scheduled to be amended as the Chamber requested related to the definition of “employee.” The new definition, if passed, will read “"Employee" specifically includes any teaching assistants, research assistants, fellows, residential assistants and proctors who perform services for an employer or are under an employer's control or right of control, in return for payment or other compensation, notwithstanding whether the employee is a student, or the supervised teaching, research, or other services are a component of their academic development.” These individuals are currently covered in Rhode Island. https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/S0124A.pdf
S.361, An Act Relating to Fair Employment Practices expands the current law to include menopause and menopause related conditions in the law on fair employment practices pertaining to pregnancy and pregnancy related conditions. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0361.pdf
S.586, An Act Relating to Health and Safety, requires employers, starting January 1, 2026, to protect employees from extreme temperatures through rest breaks, PPE, training, and equipment, and mandate training, to recognize and mitigate heat and cold-related risks. The act would require the department of health to establish and implement the training program. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0586.pdf
S.622, An Act Relating to Labor and Labor Relations, removes a sunset provision in the unemployment benefit arena. During the COVID-19 pandemic, the General Assembly and Governor increased the total amount of earnings a partial-unemployment insurance claimant could receive before being entirely disqualified for unemployment insurance benefits and increased the amount of earnings disregarded when calculating a weekly benefit rate. At the time, it was deemed necessary because jobs were hard to find as many places were forcibly closed by the state. The law is about to sunset June 30, 2025. S.622 removes the sunset, making the benefit calculation permit. The bill was introduced at the request of DLT. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0622.pdf
Tuesday, June 3rd
Senate Finance Committee is holding a hearing on one bill of interest at the Rise in room 211. S.1040, An Act Relating to Taxation – Tax on Gains from the Sale or Exchange of Real Property, was introduced May 9th for the first time. The bill creates a new tax on gains from the sale or exchange of real property held for six years or less.
*Gain, as a percentage of basis (tax cost)
Years property held by transferor 0-99% 100-199% 200% or more
Less than 4 months 60% 70% 80%
4 months, but less than 8 35% 52.5% 70%
8 months but less than 1 year 30% 45% 60%
1 year, but less than 2 25% 37.5% 50%
2 years, but less than 3 20% 30% 40%
3 years, but less than 4 15% 22.5% 30%
4 years, but less than 5 10% 15% 20%
5 years, but less than 6 5% 7.5% 10%
The bill can be viewed in its entirety at https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S1040.pdf Testimony can be submitted to [email protected]


House Labor Committee Vote At the Rise


H.5029, An Act Relating to Labor and Labor Relations – Minimum Wage is scheduled for a vote. The SubA posted version calls for two increases in the minimum wage - $16 starting January 1, 2026; and $17 starting January 1, 2027. This amended version does not include the business community’s request to phase out the Sunday premium pay requirements that only exist in this state and no other. https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/H5029A.pdf
The following new bills have been filed:
House Bill No. 6365 Cotter, Carson, Speakman, Boylan, Spears, Potter, Cruz, Stewart, Giraldo, Casimiro, AN ACT RELATING TO TAXATION -- RETAIL DELIVERY FEE (Imposes a fifty cent delivery fee (tax) per transaction for deliveries in the state.) https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H6365.pdf
House Bill No. 6378 Morales, Shallcross Smith, Felix, Cruz, Potter, Stewart, Giraldo, AN ACT RELATING TO PROPERTY -- RESIDENTIAL LANDLORD AND TENANT ACT (Provides for the sealing of eviction records under certain circumstances.) https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H6378.pdf
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Nominate Your Favorite Business!

5/29/2025

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Under the Dome: Advocacy in Action

5/27/2025

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Advocacy in Action May 27, 2025
Price Transparency Last Thursday, the House Corporations Committee voted favorably for H 5247 SUB A, which narrowly tailored the “junk fee” legislation to be consistent with the Federal Trade Commission rule that took effect May 12, 20205, and which specifies that it is an unfair and deceptive practice for businesses to offer, display, or advertise any price of live-event tickets or short-term lodging without clearly, conspicuously and prominently disclosing the total price. The original bill was broad sweeping across all industries and would have been extraordinarily difficult to implement. The Sub A resolves the concerns expressed by the Chamber. It has not yet been scheduled for action on the House Floor. The SubA can be viewed at: https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/H5247A.pdf

House Budget Update
Last Wednesday, House Fiscal Advisor Sharon Reynolds Ferland provided a briefing on the budget status. It provides an overview of the May Revenue and Caseload Conference, updates information on pending issues and budget initiatives, and provides context for the Governor’s FY26 and revised FY25 budgets. The slide deck from the presentation is available at: https://www.rilegislature.gov/housefiscalreport/2020/Budget%20Status-%20May%2014%20Briefing.pdf

Tuesday, May 27th
Tax Credit Reforms
The Senate Finance Committee is scheduled to consider two bills impacting tax credit programs at 3pm in room 211. S1002 would amend the Rebuild Rhode Island tax credit program to allow for sales and use tax exemptions for qualified development projects related to affordable and workforce housing in addition to the maximum program credit for which a project is eligible. S 940 would amend the historic tax credit program to increase the maximum project credit and raise the direct hard cost threshold for prevailing wage requirements from $10 million to $20 million.
Identity Theft Revisions
The House Judiciary Committee will meet at the Rise (approximately 5pm) in the House Lounge to hear testimony on bills including H 6346, which would change “personal information” to “personally identifiable” information, and require businesses to implement controls and procedures to restrict and manage access to the data “in transit and at rest.” Companies that disclose data to third parties must now have a written contract stating the third party will maintain reasonable security measures. It also adds subcontractors of the third party as well. Lastly, the bill increases the penalties for reckless violations of the Act from $100 per record to $1000 per record; and for knowing and willful violations, the penalty increases from $200 per record to $2000 per record. It also gives the courts the ability to impose additional penalties as it deems warranted under the circumstances. Companion legislation, S 1037 was held for further study by the Senate Artificial Intelligence & Emerging Technologies Committee on May 12th. To submit testimony on H 6346, email it to [email protected].
New Employment Tax
The Senate Committee on Health & Human Services will meet at the Rise to consider S 50, which would place a $1.50 per employee tax on businesses in order to finically fund a new state program entitled the “Catastrophic Illness in Children Relief Fund.” This fund is meant to financially aid families of children with serious illnesses. According to the Department of Labor and Training’s February 2025 data, there are 515,000 nonfarm employees in Rhode Island which includes 66,400 government employees. Presumably, this tax would raise over $670,000 for the fund. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0050.pdf

Wednesday, May 28th
The Senate Committee on Labor and Gaming will meet at 4pm in room 212 to hear legislation, S 1058, which would require employers to provide each employee of a warehouse distribution center, upon hire, with written description of quotas and tasks applicable to the employee within defined time periods and adverse employment action for failure to meet the quota. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S1058.pdf To submit testimony on S 1058, email it to [email protected].

Thursday, May 29th
Taxes on Income and Wealth
The Senate Finance Committee is meeting at the Rise (approximately 5pm) in room 211, including two proposals increasing taxes on higher income earners and on world-wide assets.
S 329 would create an additional tax rate of 3% on taxable income over $625,000 beginning in 2026, impacting the top 1% of personal income tax filers. Companion legislation, H 5473, was held for further study by the House Finance Committee on May 6th. https://webserver.rilegislature.gov/BillText25/SenateText25/S0329.pdf To submit testimony on S 329, email it to [email protected].
S 779 would impose a wealth tax of 1% on Rhode Island individuals and business entities beginning in 2026. "Worldwide wealth" is defined as “the fair market value of all intangible assets, or portion thereof, owned or controlled by a resident.” The first $25 million of assets is exempt from taxation. The legislation includes a tax penalty of 50% of the underpayment if the taxpayer substantially underestimates the tax, and a 30% penalty in all other cases. This 1% worldwide wealth tax appears to be a tax in addition to any other tax owed. Companion legislation, H 6290, was held for further study by the House Finance Committee on May 21st. https://webserver.rilegislature.gov/BillText25/SenateText25/S0779.pdf To submit testimony on S779, email it to [email protected].
Phaseout of Local Meals & Beverage Tax The Seante Finance Committee will also hear legislation, S 416, that would phase out the 1% local meals and beverage tax by 0.25% per year until eliminated on January 1, 2029. Since 2003, the hospitality industry’s retail sales have been subject to this supplemental local 1% tax in addition to the state’s 7% sales tax, differently than other retail sales. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0416.pdf To submit testimony on S 416, email it to [email protected].

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Monthly Mingle at Blount Clam Shack May 14, 2025

5/19/2025

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Thank You, Blount Clam Shack!
A big thank you to Blount Clam Shack for hosting our May Monthly Mingle!
It was a fantastic evening filled with new connections, great conversations, and delicious tastings from Blount's incredible menu. The beautiful waterview in Warren made it even more special!
​We appreciate your hospitality and support—what a perfect setting for networking and community fun! 

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Under the Dome; Advocacy in Action

5/19/2025

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This Week At the State House
Tuesday, May 20th
The Senate Finance Committee has a full schedule in Room 212 At the Rise (approximately 4:30). There are five bills of interest to the business community:
Shift of Utility Costs to Businesses and Higher Income Earners
S.185, An Act Relating to Public Utility and Carriers, creates a tiered rate system for electricity and natural gas customers whose household income level is below 150% of the federal poverty level and who are eligible for LIHEAP assistance or Medicaid. For these households, the plan envisions capping electric rates to ensure that they pay no more than 3% of their income on electricity or 6% of their income if the house utilizes electricity as a sole source of heat. The program will be funded by increasing rates on all other customers including commercial and industrial customers. Rhode Island businesses currently pay the second highest electricity rates in the country according to the Energy Information Agency’s most recent data. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0185.pdf


Municipal Waiver of Interest


S.330, An Act Relating to Taxation – Levy and Assessment of Local Taxes, allows municipalities to waive interest on overdue taxes on commercial properties. This is a simple bill that gives cities and towns the option to treat commercial property taxes in the same way they can treat residential property taxes today. S.330 is enabling legislation allowing municipalities to waive interest
on one quarter of overdue commercial property tax if:
1) The property has been owned for the five years immediately preceding the tax payment that is overdue
2) The taxpayer requests the waiver in writing
3) The taxpayer made timely payments of taxes for the five years immediately preceding the tax payment
4) The payment that is overdue was issued less than two years prior to the date of the request for the waiver
5) The waiver of interest is $500 or less https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0330.pdf
RI New Qualified Jobs Incentive Act
S.613, An Act Relating to Taxation – Rhode Island New Qualified Jobs Incentive Act 2015 provides more time to file documentation to prove the business has met the employment requirements under the act. Under current law, a business has three years following the date of approval to submit the paperwork. S.613 allows for the submission electing a waiver of tax credits for the first year of eligibility for a tax credit. Secondly, the bill also allows businesses awarded tax credits between October 1, 2018 and December 31, 2023, to submit documentation until December 31, 2025, provided the business can show evidence that withholding payments were made. Lastly, a business that was approved for tax credits under the program by the board of directors of the commerce corporation and was unable to meet its employment commitments and did not receive any tax credits under the program, may submit a new application for tax credits to the commerce corporation. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S0613.pdf
Rebuild RI Tax Credit
S.1002, An Act Relating to State Affairs and Government – Rebuild RI Tax Credit, expands the maximum project credit allowed under the Rebuild Rhode Island tax credit program to include sales and use tax exemptions for qualified development projects related to affordable and workforce housing. The current program aims to bridge the funding gap for real estate projects that are unable to secure sufficient financing through traditional means. The program provides redeemable tax credits to eligible projects. These tax credits can cover up to 20% of project costs, and in certain cases, up to 30%. Rebuild RI approved projects may also be exempt from sales tax on construction materials, furnishings, and equipment. https://webserver.rilegislature.gov/BillText/BillText25/SenateText25/S1002.pdf
Testimony on all these bills can be submitted to [email protected]
Wednesday, May 21st
Worldwide Wealth Tax
The House Finance Committee is meeting at 4:00 p.m. in room 35. H.6290, An Act Relating to Taxation – Wealth Tax is on agenda. This new bill places a 1% tax on “world-wide” wealth of Rhode Island individual residents and businesses domiciled in the state. Beginning January 1, 2026, for taxes due in 2027, a wealth tax is imposed equal to one percent (1%) multiplied by a resident's/business’s taxable worldwide wealth. "Worldwide wealth" is defined as “the fair market value of all intangible assets, or portion thereof, owned or controlled by a resident.” The first $25 million of assets is exempt from taxation; however married individuals and domestic partners must file together and each claim one-half of the exemption unless they seek a special exemption from the state. Nonfinancial assets are also not subject to tax which includes: worldwide wealth of artificial persons associated with the individual resident, debts of the United
States, trademarks, trade names, patents, financing agreements, private nongovernmental personal service contracts, nongovernmental athletic or sports franchises or agreement, nonfinancial intangible assets, stock of a federal reserve bank or national mortgage association, and property subject to ad valorem taxation (real property or personal property subject to tax already). The legislation includes a tax penalty of 50% of the underpayment if the taxpayer substantially underestimates the tax, and a 30% penalty in all other cases. This 1% worldwide wealth tax appears to be a tax in addition to any other tax owed. H.6290 does include a credit if the taxpayer is subject to a substantially similar tax from another state on the same assets. https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H6290.pdf
To submit testimony on H.6290, email it to [email protected]
Thursday, May 22nd
Junk Fee Bill to Be Amended as Requested by the Chamber
H.5247, An Act Relating to Commercial Law – Deceptive Trade Practices, is scheduled for a vote, but in a SubA form. The original bill attempted to address what is often referred to as “junk fees,” and the misleading of customers by stating one price for a good or service and then adding random fees after the order is complete. The legislation created a new section to the unfair deceptive practices act, declaring it is an unfair practice to offer goods or services to the public and fail to include a notification disclosing any fees including the “nature and purpose” of those fees. H.5247 SubA, is limited to the “Advertising, displaying, or offering a price for live-event tickets or short-term lodging in violation of federal law 16 C.F.R. Part 464.” This version of the bill resolves the concerns expressed by the Chamber. The SubA can be viewed at: https://webserver.rilegislature.gov/BillText/BillText25/Proposed25/H5247A.pdf
The following new bills have been filed:
House Bill No. 6334 (Providence City Council) Kislak, Morales, Potter, Diaz, Slater, Ajello, Speakman, Hull, J. Lombardi, AN ACT RELATING TO TAXATION -- SALES AND USE TAXES--LIABILITY AND COMPUTATION (Authorizes municipalities to impose a ticket tax on ticket sales for venues large enough to hold at least eight hundred (800) patrons, seated, of two dollars ($2) per ticket. The tax shall be redistributed to the locality where the venue is located.) https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H6334.pdf
House Bill No. 6344 Voas, Chippendale, AN ACT RELATING TO CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS -- THE RHODE ISLAND LIMITED LIABILITY COMPANY ACT (Replaces the existing limited liability company act with a newer and updated model act.) https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H6344.pdf House Bill No. 6346 Carson, AN ACT RELATING TO CRIMINAL OFFENSES -- IDENTITY THEFT PROTECTION ACT OF 2015 (Amends the Identity Theft Protection Act by eliminating current definitions and establishing new definitions. This act also raises the penalty provisions for violations.) https://webserver.rilegislature.gov/BillText/BillText25/HouseText25/H6346.pdf
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Frank Smith Insurance Welcomes Kendra Hoesterey to their Team

5/15/2025

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Picture
 ​We at Frank Smith Insurance and Real Estate are proud to welcome Kendra Hoesterey as the newest member of our growing team. Kendra joins us as a Personal Lines Producer, bringing with her two years of valuable experience in the insurance industry. Kendra is passionate about building lasting relationships with her clients and is committed to helping individuals and families navigate the often complex world of insurance. She believes in a client-first approach, providing thoughtful guidance and clear education to ensure her clients feel confident in their coverage choices. Her dedication to service and her enthusiasm for connecting with people make her a great fit for our team and the communities we serve. We’re excited for our clients to get to know Kendra and experience the care and professionalism she brings to her role. "We're thrilled to welcome Kendra to our small yet mighty growing team here at Frank Smith Insurance and Real Estate,” stated Jennifer Preston, FSI President. “With her enthusiasm for client service and commitment to building meaningful relationships, I have no doubt she'll be a welcome addition to our mission of putting clients first." Please join us in welcoming Kendra Hoesterey to Frank Smith Insurance and Real Estate!  ​https://www.franksmithinc.com/

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Phone: (401) 245-0750  |  Fax: (401) 245-0110  | [email protected]