Shown verbatim: the complete text as captured from the official PDF posted by the Rhode Island General Assembly, fetched 2026-07-29. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
S2624 2026 -- S 2624 ======== LC003267 ======== STATE OF RHODE ISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ A N A C T RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT 2015 Introduced By: Senators Ujifusa, Bell, Euer, Murray, Mack, Acosta, Valverde, DiMario, Lauria, and DiPalma Date Introduced: February 13, 2026 Referred To: Senate Labor & Gaming It is enacted by the General Assembly as follows: 1 SECTION 1. Section 44-48.3-12 of the General Laws in Chapter 44-48.3 entitled Rhode 2 Island New Qualified Jobs Incentive Act 2015 is hereby amended to read as follows: 3 44-48.3-12. Discontinuance of further rate reductions and future beneficiaries under 4 the jobs development act. 5 (a) The rate reduction(s) provided pursuant to chapter 64.5 of title 42 shall be discontinued 6 effective July 1, 2015, except as provided in subsection (b) of this section ; provided, however, that 7 all rate reductions provided pursuant to chapter 64.5 of title 42 will discontinue no later than July 8 1, 2026 . 9 (b) Any company that has qualified for a rate reduction pursuant to chapter 64.5 of title 42 10 prior to July 1, 2015, shall be entitled to maintain the rate reduction in effect as of June 30, 2015, 11 and no additional rate reduction shall be permitted. All obligations of the company required under 12 chapter 64.5 of title 42 to retain a rate reduction shall remain in full force and effect. 13 SECTION 2. Chapter 42-64.5 of the General Laws entitled Jobs Development Act is 14 hereby amended by adding thereto the following section: 15 42-64.5-9. Sunset. 16 No credits shall be authorized to be reserved pursuant to this chapter after June 30, 2026. 1 SECTION 3. This act shall take effect upon passage. ======== LC003267 ======== LC003267 - Page 2 of 3 EXPLANATION BY THE LEGISLATIVE COUNCIL OF A N A C T RELATING TO TAXATION -- RHODE ISLAND NEW QUALIFIED JOBS INCENTIVE ACT 2015 *** 1 This act would sunset/discontinue the Jobs Development Act rate reduction as of July 1, 2 2026. 3 This act would take effect upon passage. ======== LC003267 ======== LC003267 - Page 3 of 3
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