Rhode Island Senate Bill S0212

Rhode Island 2023 Regular Session

• Introduced: 2/16/23
• Refer: 2/16/23

Caption

Personal Income Tax

Impact

The implementation of S0212 is expected to have a positive financial impact on local property owners, making it economically feasible for them to connect to municipal sewer systems. The tax credit would particularly benefit those who may be deterred by the upfront costs of sewer connection, thereby promoting public health and environmental standards in the community. This measure reflects an acknowledgment of the infrastructure needs within Rhode Island's municipalities and aims to facilitate upgrades that align with state and local health regulations.

Summary

S0212 is a proposed act aimed at amending Chapter 44-30 of the General Laws concerning personal income tax in the state of Rhode Island. The bill introduces a tax credit for property owners to cover the actual costs associated with connecting their single-family or multi-family dwellings to municipal sewer systems. This one-time, non-refundable tax credit can be claimed as either a personal or corporate income tax credit depending on the filing status of the property owner at the time of tax filing. The act seeks to provide financial relief to homeowners and encourage compliance with local sewage regulations.

Contention

Discussions surrounding S0212 may center on the allocation of state resources and the balance between promoting local infrastructure improvements versus potential fiscal impacts on state revenue from the tax credits. While supporters may view this as a necessary investment in public health and safety, others could raise concerns about how the bill might strain state finances over time, especially if many property owners take advantage of the tax credit. The legislative debate may also address how to ensure equitable access to these benefits for all community members.