Rhode Island Bill H 8450 Adopts Franchise Fee to Replace Corporation Tax

Original title: AN ACT RELATING TO CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS -- RHODE ISLAND BUSINESS CORPORATION ACT -- THE RHODE ISLAND BUSINESS CLIMATE REFORM ACT (Adopts several concepts from other jurisdictions with the goal of promoting a stronger climate for business growth in Rhode Island, including a "Franchise Fee" in lieu of the corporation tax.)

Last action · April 28, 2026: Committee recommended measure be held for further studySponsors: Brian Newberry and 9 others

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

Track this bill to get notified when it advances a stage. One tap to stop, anytime.

What This Bill Proposed

Rhode Island House Bill 8450 establishes the Rhode Island Business Climate Reform Act, introducing a to replace the standard in an effort to foster business growth. The measure was introduced on April 15, 2026, and subsequently held for further study by the House committee on April 28, 2026.

Why it matters

Changes the tax structure for corporations operating in the state by replacing traditional es with a , altering compliance and financial obligations for registered businesses.

Background

The Rhode Island Business Corporation Act governs the formation, operation, and taxation of business corporations within the state. context

Who It Would Have Affected

Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.

Directly affected

Rhode Island corporations

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What is the main tax change proposed in House Bill 8450?

The bill introduces a to replace the existing for businesses in Rhode Island.

What is the current status of the bill?

The bill was introduced on April 15, 2026, and the House committee recommended that the measure be held for further study on April 28, 2026.

What else do you want to know?

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Follow the record

Votes, people, money & the original source

Where This Stands

This bill did not become law - Died at adjournment · in House committee.

Procedural history

3 actions

Apr 28, 2026
Committee recommended measure be held for further study
Apr 24, 2026
Scheduled for hearing and/or consideration (04/28/2026)
Apr 15, 2026Introduced
Introduced, referred to House Corporations

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →