Take action NOW for the Rhode Island Local Investment Tax Credit

The General Assembly is considering an incentive for investing local, and we need your help to make it a reality.

S2833 and H8195 would create a $0.50 tax credit on every $1.00 of investment by a Rhode Island taxpayer into local small businesses, up to $3,000 in total credits per taxpayer. Thank you to Sen. Bridget Valverde and Rep. Mary Ann Shallcross Smith for sponsoring this important legislation.

4 Reasons Why

This incentive makes sense for Rhode Island because:

1. Strong local, independent businesses mean a strong local economy.
2. Money that stays local recirculates through the local economy 2-4 times more than money spent at a non-local company, meaning more wealth, jobs, and community giving. That’ s the multiplier effect.
3. We urgently need to move money from Wall Street to our main streets. Rhode Islanders want and deserve the opportunity to invest their money into the local economy.
4. This tax credit targets everyday Rhode Island taxpayers and small businesses that need more funding options.

Download our fact sheet to learn more about the bill.

Call to Action

Here’s what you can do RIGHT NOW to promote local investment in Rhode Island:

Send 6 messages to:

1. Speaker Christopher Blazejewski
   rep-blazejewski@rilegislature.gov​
   (401) 222-2466
2. Senate President Valarie J. Lawson
   sen-lawson@rilegislature.gov​ 
   (401) 222-4901 
3. House Finance Committee Chair Marvin Abney
   rep-abn​ey@r​ilegislature.gov
   (401) 222-2466
4. Senate Finance Committee Chair Louis P. DiPalma
   sen-dipalma@rilegislature.gov​
   (401) 847-8540
5. Your state representative (find them here)
6. Your state senator (find them here)

Tell them: 

I am writing to ask for your support of {H-8195, sponsored by Rep. Shallcross-Smith, or S-2833, sponsored by Sen. Valverde}, creating a Rhode Island Local Investment Tax Credit. This bill would create a $0.50 tax credit on every $1 of qualified investment by a Rhode Island taxpayer into a qualified local business, up to $3,000.

{Insert a sentence or two explaining why you urge them to support the legislation. Use our fact sheet for inspiration.}

Thank you for your consideration of this important economic and community development measure!

{Sign with your full name and address.}