Rhode Island 2026 Regular Session

Rhode Island House Bill H7700

Introduced
2/11/26  

Caption

Increases the income range up to fifty thousand dollars ($50,000) and tax credit up to eight hundred fifty dollars ($850), for elderly and disabled persons who own or rent their homes.

Impact

The passing of H7700 is expected to provide considerable financial relief for eligible individuals by reducing the burden of property taxes. This adjustment not only supports elderly and disabled residents – who often live on fixed incomes – but may also encourage greater stability in housing for these populations. By increasing the income limits and tax credits, the legislation reflects an effort to align tax relief measures with the rising cost of living and housing expenses that affect these groups disproportionately.

Summary

House Bill H7700 proposes significant amendments aimed at enhancing property tax relief specifically for elderly and disabled residents who either own or rent their homes. The most notable adjustments include an increase in the eligible income range up to $50,000, thereby allowing a larger segment of the population to benefit from this program. Additionally, the bill seeks to raise the maximum tax credit available to individuals from the current amounts to $850, which demonstrates a commitment by lawmakers to better support vulnerable populations within the state.

Contention

While the bill appears widely beneficial, discussions surrounding its enactment may reveal contention points. Critics may raise concerns regarding the fiscal implications of increasing tax credits on state revenue and whether these changes could lead to economic strains or adjustments in funding for other essential services. Additionally, there could be debates on the sufficiency of the proposed income thresholds and whether they truly capture the needs of all eligible residents, signaling a gap in engagement with community feedback.

Companion Bills

No companion bills found.

Previously Filed As

RI S0027

Increases the income range up to fifty thousand dollars ($50,000) and tax credit up to eight hundred fifty dollars ($850), for elderly and disabled persons who own or rent their homes.

RI H5194

Increases the income range up to $50,000 and tax credit up to $850, for elderly and disabled persons who own or rent their homes.

RI H5218

Increases insurance coverage for hearing aids from one thousand five hundred dollars ($1,500) to one thousand seven hundred fifty dollars ($1,750), per ear, for all people regardless of age effective January 1, 2026.

RI S0120

Increases insurance coverage for hearing aids from one thousand five hundred dollars ($1,500) to one thousand seven hundred fifty dollars ($1,750), per ear, for all people regardless of age effective January 1, 2026.

RI H5309

Increases the minimum veterans’ exemption from one thousand dollars ($1,000) to six thousand dollars ($6,000) with respect to municipal taxes.

RI S0783

Increases the threshold limit for charitable organizations with an annual gross income of five hundred thousand dollars ($500,000) to one million dollars ($1,000,000) or more.

RI H6257

Provides for an additional real estate conveyance tax for commercial properties sold in excess of one million five hundred thousand dollars ($1,500,000) at a rate of three dollars and thirteen cents ($3.13) for each five hundred dollars.

RI S0447

Establishes a child tax credit of one thousand dollars ($1,000) per dependent.

RI H6072

Establishes a child tax credit of one thousand dollars ($1,000) per dependent.

RI S0098

Provides tax credits or the equivalent assessment dollars to veterans, gold star parents, visually impaired persons and the elderly.

Similar Bills

No similar bills found.