Rhode Island
For Rhode Island, statute is R.I. Gen. Laws § 6-26-11; 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.) 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; effective date is effective June 26, 2025; P.L. 2025, ch. 303, § 1, effective June 26, 2025; notes is The rate of interest provided in subsection (b) of this section shall only be applied to new debt incurred after June 26, 2025, verified against its source on 2026-08-31.
- State
- Rhode Island our reading
- Statute
- R.I. Gen. Laws § 6-26-11 verified
- 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.) 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. verified
- Effective date
- effective June 26, 2025; P.L. 2025, ch. 303, § 1, effective June 26, 2025. verified
- Notes
- The rate of interest provided in subsection (b) of this section shall only be applied to new debt incurred after June 26, 2025. verified
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.
What the source says
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 2026-08-31
Where each value comes from
This source states these in separate places, so each value is shown with the passage that states it.
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.) 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.
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.
Notes
(c) The rate of interest provided in subsection (b) of this section shall only be applied to new debt incurred after June 26, 2025.
— all from webserver.rilegislature.gov, retrieved 2026-08-31
Source
- webserver.rilegislature.govhttps://webserver.rilegislature.gov/Statutes/TITLE6/6-26/6-26-11.htm