Allocates a portion of state income taxes from new employees at not-for-profit healthcare and educational institutions to the city of Providence.

This bill mandates that a portion of state income taxes withheld from new employees at not-for-profit healthcare institutions, health service institutions, and educational institutions be allocated to the city of Providence. The allocation is intended to offset expenses related to the growth in healthcare and educational areas. The bill outlines specific procedures for institutions to report employee and tax data to the state director and the city's chief financial officer. The funds are to be remitted to the city treasurer starting in fiscal year 2028. The bill takes effect upon passage.

Allocates a portion of state income taxes from new employees at not-for-profit healthcare and educational institutions to the city of Providence.

This bill mandates that a portion of state income taxes withheld from new employees at not-for-profit healthcare institutions, health service institutions, and educational institutions be allocated to the city of Providence. The allocation is intended to offset expenses related to the growth in healthcare and educational areas. The bill outlines specific procedures for institutions to report employee and tax data to the state director and the city's chief financial officer. The funds are to be remitted to the city treasurer starting in fiscal year 2028. The bill takes effect upon passage.