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, specifically suspending the tax rate of four percent (4%) for electricity and three percent (3%) for gas. This suspension will take effect on January 1, 2027, and will remain in effect until January 1, 2036. The act is set to take effect on January 1, 2027, coinciding with the start of the tax suspension for electric and gas companies.

Statutes affected:
7703: 44-13-4