2025 -- S 0186 | |
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LC000941 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2025 | |
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A N A C T | |
RELATING TO TAXATION -- PERSONAL INCOME TAX | |
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Introduced By: Senators McKenney, and Appollonio | |
Date Introduced: February 07, 2025 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 44-30 of the General Laws entitled "Personal Income Tax" is hereby |
2 | amended by adding thereto the following section: |
3 | 44-30-28. Tax credit for sewer connection cost. |
4 | (a) An owner of real property upon which a single family or multi-family dwelling is |
5 | located will be allowed an income tax credit for the installation costs of connecting the single or |
6 | multi-family dwelling to a municipal sewer system. |
7 | (b) For the purposes of this section, the owner of real property shall be allowed a non- |
8 | refundable state income tax credit in the amount of the actual cost of connection. This credit shall |
9 | be claimed only once by the real property owner. |
10 | (c) This income tax credit shall be allowed as either a personal or a corporate income tax |
11 | credit, depending on the real property owner's income tax filing status on the last day of the owner's |
12 | income tax filing period; provided, that if the installation costs were incurred by a corporation, then |
13 | a non-refundable corporate income tax credit shall be allowed, and if installation costs were not |
14 | incurred by a corporation, then a non-refundable personal income tax credit shall be allowed. |
15 | (d) In no event shall both a corporate and personal non-refundable income tax credit be |
16 | allowed for the installation costs at a single location. |
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1 | SECTION 2. This act shall take effect upon passage. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO TAXATION -- PERSONAL INCOME TAX | |
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1 | This act would allow a one-time non-refundable tax credit for the actual costs of connecting |
2 | a single family or multi-family dwelling to a municipal sewer system to the owner of the real |
3 | property credited to the owner's personal income tax or corporate income tax based on the filing |
4 | status of the owner. |
5 | This act would take effect upon passage. |
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