global Tax RI Governor Signs $119M in ARPA Spending into Law January 05, 2022 Attention Rhode Islanders…you will want to read up on the $119 million proposal which is poised to help small businesses, children, families and more. Earlier this week, the General Assembly, followed closely by Governor McKee, unanimously approved a proposal to allocate $119 million of the $1.1 billion American Rescue Plan Act (ARPA) funding. Here’s a look inside the proposal. What’s inside the RI proposal? The $119 million proposal allocates: $32 million to assist RI small businesses$29.5 million for addressing affordable housing needs and human services$38.5 million to support children, families and social services$13 million to invest in the tourism, hospitality and event industries Additionally, the proposal overrides two 2021 vetoes—one concerning the institution of a statewide registry for short term rental properties (ex. Airbnb, VRBO) and another regarding legislation prohibiting auto insurers from refusing to pay standard industry costs for auto body repairs. What else could be on the horizon in RI? Legislation legalizing marijuana looks like a top priority this year for the legislature—could happen by February, lawmakers share. Gov. McKee will likely deliver his proposed fiscal 2023 budget in two weeks, with passage expected sometime in June. Questions? Contact us.
