The bill amends Chapter 44-18 of the General Laws to establish a new section, 44-18-18.2, which creates a restricted receipt account specifically for the Rhode Island public transit authority. This account will receive all sales and use tax revenue collected from transportation network companies, as defined in 44-18-7.3. The funds deposited into this account will be used to fund operations related to the Rhode Island public transit authority and will be exempt from the indirect cost recovery provisions set forth in Section 35-4-27.

Additionally, the account created under this section will be known as the Rhode Island public transit authority account. The act is set to take effect on July 1, 2026.

Statutes affected:
3133: 35-4-27