2025 Regular Session • Rhode Island Legislature
H5756: Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.
Legislative Summary
TAXATION -- REAL ESTATE CONVEYANCE TAX - Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.
Demographic Impact
Overall analysis of equity impact
90% Positive
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Bill History
2/26/2025
Introduced, referred to House Finance
House of Representatives
5/9/2025
Scheduled for hearing and/or consideration (05/13/2025)
House of Representatives
5/13/2025
Committee recommended measure be held for further study
House of Representatives
Status Information
Current Status
Introduced(2/26/2025)
Chamber
House of Representatives
Committee
Finance(House of Representatives)
