The proposed bill, titled "The Equity Impact Assessment and Budget Equity Impact Act," aims to require the Rhode Island General Assembly to consider equity and the impact of its legislation on diverse communities. The bill establishes a framework for equity impact assessment statements, which will evaluate the potential effects of proposed legislation on disparities related to race, color, ethnicity, religion, sex, sexual orientation, gender identity or expression, disability, age, and country of ancestral origin.

Key provisions of the bill include definitions of terms such as "disparities" and "equity," and a process for requesting equity impact assessment statements for up to twenty pieces of proposed legislation each legislative session. The Speaker of the House, the President of the Senate, and the Rhode Island Black, Latino, Indigenous, Asian-American, and Pacific Islander Caucus (RIBLIA) will have the authority to request these assessments. The fiscal office of the respective chamber will coordinate with relevant state agencies to complete the assessments, which will be made available to the public when bills are posted for committee hearings.

The content of the equity impact assessment statements will include information to help legislators evaluate whether proposed legislation is likely to increase, decrease, or have no effect on equity. The statements will also include data on historical and existing disparities, as well as potential demographic and economic impacts of the proposed legislation.

Additionally, the bill amends the responsibilities of the budget officer to include an explanation of how the state budget promotes equity. It requires that budget estimates identify programs and expenditures that aim to increase equity, ensuring that the state government actively works to address past discrimination and prevent future disparities.

The act is set to take effect on July 1, 2025.