Rhode Island
What is the interest rate cap for Rhode Island?
For Rhode Island, interest rate cap is Interest on medical debt shall be limited to the rate of interest equal to the weekly average one-year constant maturity Treasury yield, but not less than one and a half percent per annum (1.5% p.a.) nor more than four percent per annum (4% p.a.); effective date is P.L. 2025, ch. 302, § 1, effective June 26, 2025; P.L. 2025, ch. 303, § 1, effective June 26, 2025; statute citation is R.I. Gen. Laws Sec. 6-26-11, recorded from its source on 2026-09-02.
R.I. Gen. Laws § 6-26-11 § 6-26-11. Medical debt interest cap. (a) For purposes of this section “medical debt” means an obligation of a consumer to pay an amount for the receipt of healthcare services as defined by § 27-81-3, products, or devices, owed to a healthcare facility or a healthcare professional as defined by § 27-81-3. (b) Interest on medical debt shall be limited to the rate of interest equal to the weekly average one-year constant maturity Treasury yield, but not less than one and a half percent per annum (1.5% p.a.) nor more than four percent per annum (4% p.a.) as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date when the consumer was first provided with a bill.
— webserver.rilegislature.gov, retrieved 2026-09-02
- jurisdiction
- Rhode Island our reading
- interest rate cap
- Interest on medical debt shall be limited to the rate of interest equal to the weekly average one-year constant maturity Treasury yield, but not less than one and a half percent per annum (1.5% p.a.) nor more than four percent per annum (4% p.a.) verified
- effective date
- P.L. 2025, ch. 302, § 1, effective June 26, 2025; P.L. 2025, ch. 303, § 1, effective June 26, 2025. verified
- statute citation
- R.I. Gen. Laws Sec. 6-26-11 our reading
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
Where each value comes from
The value above is stated away from the sentence quoted with the answer, so the passage that states it is shown here too.
effective date
History of Section. P.L. 2025, ch. 302, § 1, effective June 26, 2025; P.L. 2025, ch. 303, § 1, effective June 26, 2025.
— all from webserver.rilegislature.gov, retrieved 2026-09-02
Source
- webserver.rilegislature.govhttp://webserver.rilegislature.gov/Statutes/TITLE6/6-26/6-26-11.htm