The bill amends Section 44-13-4 of the General Laws concerning the Public Service Corporation Tax. It introduces a new provision that suspends the gross earnings tax on electric and gas companies starting January 1, 2026, until January 1, 2035. The tax rate of four percent (4%) on these corporations will not be applicable during this suspension period. Additionally, the bill clarifies that the tax on the portion of gross earnings derived from the manufacture and sale of illuminating and heating gas and its by-products will continue to be computed at a rate of three percent (3%). The act is set to take effect on January 1, 2026.

Statutes affected:
895: 44-13-4