Senate Finance Committee to Meet Virtually to Hear Budget Articles on Marijuana, Insurance
STATE HOUSE — The Senate Finance Committee is scheduled to meet virtually Wednesday to hear testimony on budget articles relating to adult use of marijuana and insurance. The committee will also hear two bills related to taxation. The committee is scheduled to meet Wednesday, Nov. 18, at 5 p.m.
The committee will hear testimony on the proposed state budget, particularly Article 13 relating to state-controlled adult use marijuana, a new article relating to accident and sickness insurance policies, and a new article relating to Medicare supplement insurance policies.
The committee will also hear two bills related to taxation. The first (2020-S 2494), introduced by Sen. Ryan W. Pearson (D-Dist. 19, Cumberland, Lincoln), would create a new income tax bracket of 6.99% on taxable income over $500,000. Any tax collected on this income would be deposited into a restricted receipt account and spent on education for grades kindergarten through 12. The second bill (2020-S 2801), introduced by Finance Committee Chairman William J. Conley Jr. (D-Dist. 18, East Providence, Pawtucket), would add a new income tax bracket for purposes of state income taxation.
The Senate Finance Committee is chaired by Sen. William J. Conley Jr. (D-Dist. 18, East Providence, Pawtucket).
The State House remains closed to the public as a result of the COVID-19 pandemic. The meeting will be streamed live online Via Capitol TV at
http://www.rilegislature.gov/CapTV/Pages/default.aspx.
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