---
type: "Bill"
title: "AN ACT RELATING TO TAXATION -- TAXATION OF BANKS"
description: "Provides banks with an election to use the allocation and apportionment method of income for purposes of taxation."
jurisdiction: "us/states/ri"
legislature: "Rhode Island General Assembly"
session: "2024"
identifier: "HB 7927"
citation: "Rhode Island HB 7927 (2024)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Solomon"]
version_count: 1
action_count: 16
vote_count: 1
first_action: "2024-03-04"
last_action: "2024-06-24"
source: "openstates"
source_identifier: "ocd-bill/c86c7bb4-1f5d-4802-9a15-c739d3b8f11c"
source_url: "https://status.rilegislature.gov/"
source_hash: "409e25aced2ee05b48fc5ce8eb5fe83b87fbf62c3eed3a8d55ebe33b60ad9731"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ri"]
---

# Rhode Island HB 7927 (2024) — AN ACT RELATING TO TAXATION -- TAXATION OF BANKS

Provides banks with an election to use the allocation and apportionment method of income for purposes of taxation.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **7927 SUB A** (committee substitute) — [source](http://webserver.rilegislature.gov/BillText/BillText24/HouseText24/H7927A.pdf)

## Votes

- PASSAGE — **66–2** (pass) · lower

## Sponsors

- Solomon — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2024-03-04** 03/04/2024 Introduced, referred to House Finance `introduction, referral-committee`
- **2024-04-05** 04/05/2024 Scheduled for hearing and/or consideration
- **2024-04-08** 04/08/2024 Committee postponed at request of sponsor (04/09/2024)
- **2024-04-08** 04/08/2024 Scheduled for hearing and/or consideration (04/11/2024)
- **2024-04-11** 04/11/2024 Committee recommended measure be held for further study `committee-failure`
- **2024-06-08** 06/08/2024 Scheduled for hearing and/or consideration
- **2024-06-09** 06/09/2024 Meeting postponed (06/10/2024)
- **2024-06-08** 06/08/2024 Scheduled for hearing and/or consideration (06/11/2024)
- **2024-06-10** 06/10/2024 Proposed Substitute `substitution`
- **2024-06-11** 06/11/2024 Committee recommends passage of Sub A `committee-passage-favorable`
- **2024-06-12** 06/12/2024 Placed on House Calendar (06/13/2024) `reading-3`
- **2024-06-13** 06/13/2024 House passed Sub A `passage`
- **2024-06-13** 06/13/2024 Placed on Senate Calendar (06/13/2024) `reading-3`
- **2024-06-13** 06/13/2024 Senate passed Sub A in concurrence `passage`
- **2024-06-21** 06/21/2024 Transmitted to Governor `executive-receipt`
- **2024-06-24** 06/24/2024 Signed by Governor `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c86c7bb4-1f5d-4802-9a15-c739d3b8f11c`. Confidence: reported (aggregated from official Rhode Island legislature records).