The bill establishes a new section, 44-18-18.2, which creates a restricted receipt account known as the Rhode Island public transit authority account. This account will be funded by all sales and use tax revenue collected from transportation network companies, as defined in 44-18-7.3. The funds in this account are designated for the benefit of the Rhode Island public transit authority, specifically to support paratransit transportation and the RIDE Anywhere program.

Additionally, the bill amends Section 35-4-27 to specify that the account created under this new section shall be exempt from the indirect cost recovery provisions set forth in that section. The act is set to take effect on July 1, 2026.

Statutes affected:
8145: 35-4-27