The bill amends Section 44-13-4 of the General Laws concerning the Public Service Corporation Tax. It introduces a suspension of the gross earnings tax on electric and gas companies, stating that starting January 1, 2026, the tax rate shall be suspended until January 1, 2035. The current tax rate of three percent (3%) for these companies will not be applicable during this suspension period. The bill does not make any changes to the existing tax rates for other types of public service corporations, including steamboat, ferryboat, railroad, telecommunications, and cable corporations. The act is set to take effect on January 1, 2026.

Statutes affected:
895: 44-13-4