Local Return promotes policies and practices that support a vibrant and just local economy. This year, we are supporting the following pieces of legislation:
At the State Level
Rhode Island Local Investment Act
H8195 (Rep. Shallcross-Smith) / S2833 (Sen. Valverde)
This bill would create a $0.50 tax credit on every $1.00 of qualified investment by a Rhode Island taxpayer into local businesses with fewer than 100 employees, up to $3,000 in total credits per taxpayer.
Stop Strategic Holds on Properties
H8106 (Rep. Casey) / S2644 (Sen. Murray)
This legislation would ban the use of new restrictive covenants which prohibit a property from being used as a grocery store or grocery.
Codifying Robinson-Patman Act
H7514 (Rep. Diaz) / S2642 (Sen. Britto)
This bill would create protections for Rhode Island retailers against supplier price discrimination, similar to the federal Robinson-Patman Act, and empower both state and private parties to enforce those protections.
Food Procurement
H7999 (Rep. Cortvriend) / S2836 (Sen. Valverde)
This bill would allow the state to purchase food and food supplies of less than $25,000 under the small purchase regulations.
Rhode Island Center for Employee Ownership
H7570 (Rep. Diaz) / S2922 (Sen. Ciccone)
This legislation would create a Center for Employee Ownership to provide resources and technical assistance to help small business owners transition ownership to employees.
Rent-a-Bank Scheme
H7850 (Rep. Handy) / S2206 (Sen. Bell)
This legislation would protect Rhode Islanders from predatory online lenders charging triple-digit interest rates. It would require banks chartered in other states to obey Rhode Island’s interest rate caps, thereby preventing fintech companies from “renting” out these banks to get around Rhode Island interest rate caps.
Small Farm Success Act
H7242 (Rep. McGaw) / S2827 (Sen. Mack)
This bill would exempt certain urban and small farmers from sales, real, tangible, and personal property taxes and income taxes.
At the Federal Level
Credit Card Competition Act
This legislation would mandate competition in the credit card payment processing industry, currently dominated by Mastercard and Visa, in order to lower swipe fees for small and local businesses.
Fair Competition for Small Business Act
This legislation would invigorate state level antitrust enforcement to ensure fair supplier pricing for small and independent businesses.
Fair Prices for Local Businesses Act
This legislation would strengthen the Robinson-Patman Act, revitalizing the federal ban on price discrimination.
