Rhode IslandH71222026 Regular SessionHouseWALLET

AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION .

Sponsored By: Enrique Sanchez (Democratic)

Became Law

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Local tax break for business equipment

Beginning January 1, 2026, your city, town, or fire district can set an exemption for business equipment and other tangible personal property. It must be adopted by the local governing body and applied the same way to everyone there. It must follow local tax classification rules. If your community adopts it, businesses that own taxable equipment there pay less property tax on that equipment.

Property tax relief for Community MusicWorks

Beginning January 1, 2026, Community MusicWorks’ property at 1326 Westminster Street in Providence (Plat 32, Lot 232) is exempt from property tax. The exemption covers the building and the nonprofit’s tangible personal property at that address. This removes the local property tax bill for that parcel.

New tax rules for for-profit hospitals

Beginning January 1, 2026, when a nonprofit hospital becomes for-profit or a new for-profit hospital opens, the local assessor values the property using the most recent assessment date. The hospital can appeal the valuation locally and directly to Rhode Island Superior Court (business calendar). In that year, any amount the city or town bills for that facility, including under a stabilization agreement, does not count toward the city’s levy cap. Cities and towns may still enter stabilization agreements.

Sponsors & Cosponsors

Sponsor

Enrique Sanchez
Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 61 • No: 5

House vote • 6/8/2026

PROPERTY SUBJECT TO TAXATION PASSAGE