Rep Nardone: 2026 H7312 - Aligns RI Estate Tax with Federal Exemption - House Finance (5726)

On May 7, 2026, Representative George Nardone (R District 28 - Coventry) presents 2026 House Bill 7312 to the Rhode Island House Committee on Finance. This legislation proposes aligning the Rhode Island estate tax exemption threshold with the federal estate tax standard.

During his introduction, Rep. Nardone explains that Rhode Island currently maintains one of the lowest estate tax exemption thresholds in the country at $1.8 million. He argues that this aggressive tax policy disproportionately impacts constituents who are "cash poor but land rich," as well as everyday residents whose combined assets—such as a paid-off home, retirement accounts, and life insurance policies—push them over the threshold. Nardone emphasizes that this current structure incentivizes residents to relocate out of state before passing away to avoid heavy taxation on their estates.

House Bill No. 7312
BY Nardone, Quattrocchi, Fascia, Santucci, Place, Chippendale
ENTITLED, AN ACT RELATING TO TAXATION -- ESTATE AND TRANSFER TAXES -- LIABILITY AND COMPUTATION (Increases the net taxable estate exemption to fifteen million dollars ($15,000,000) for deaths that occur on or after January 1, 2027.)
{LC4278/1}
» http://webserver.rilegislature.gov/BillText/BillText26/HouseText26/H7312.pdf

State Representative George A. Nardone
» https://www.rihousegop.org/deputynardone.html

Rhode Island House Republicans
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