PROVIDENCE, R.I. (AP) — The Rhode Island Senate Finance Committee is set to hold its first hearings this year, including on a proposal to exempt assets worth up to $2 million from the estate and transfer tax.
The committee is scheduled to meet Tuesday at the State House in Providence. The bill on estate and transfer tax exemption was filed by Sen. Edward O'Neill.
Other bills set for consideration include a proposal by Sen. David Bates for capital gains tax exemption for certain investments made in businesses in the state under certain conditions.
The committee will also consider Sen. Leonidas Raptakis’ legislation that would repeal a legal provision requiring those licensed to sell liquor to file an annual report detailing sales information and tax collection on those sales.
The committee will also hear bills on sales and use taxes and other issues.