Rhode Island 2025 Regular Session Status: In Committee 3 D cosponsors

SB 1040 — AN ACT RELATING TO TAXATION -- TAX ON GAINS FROM THE SALE OR EXCHANGE OF REAL PROPERTY

Last action — 06/03/2025 Committee recommended measure be held for further study

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates new tax on gains from sale or exchange of real property held for short periods of time, 6 years or less, establishes a comprehensive framework to calculate and implement enforcement and provides imprisonment and/or fines for those who evade taxes.

Bill Text

We don't have the full text on file for this bill yet.

Read SB 1040 on the official Rhode Island source →

Action History

  1. 06/03/2025 Committee recommended measure be held for further study

  2. 05/30/2025 Scheduled for hearing and/or consideration (06/03/2025)

  3. 05/09/2025 Introduced, referred to Senate Finance

Sponsors

Sponsorship breakdown

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3 sponsors · 0 co-sponsors · 111 not signed on

Sponsors (3)

Co-sponsors (0)

None.

Not signed on (111)

111 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1040 do?
Creates new tax on gains from sale or exchange of real property held for short periods of time, 6 years or less, establishes a comprehensive framework to calculate and implement enforcement and provides imprisonment and/or fines for those who evade taxes.
Who sponsors SB 1040?
SB 1040 is sponsored by Victoria Gu (Democratic), Samuel W. Bell (Democratic), and Dawn Euer (Democratic).
What is the current status of SB 1040?
This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1040?
Track SB 1040 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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