Latest news with #Diossa
Yahoo
7 days ago
- Business
- Yahoo
New state nonprofit launched to help Rhode Island score big in 2026 World Cup
Rhode Island officials have launched a new nonprofit, Ocean State 2026, to take advantage of tourism during the 2026 World Cup matches at Gillette Stadium in Foxboro, pictured. (Photo by Christopher Shea/Rhode Island Current) State officials are forming a new nonprofit to help maximize local tourism and economic development for the state from the 2026 World Cup, which includes matches at Gillette Stadium in Foxboro, Massachusetts. Ocean State 2026 will be led by Rhode Island Commerce Secretary Liz Tanner, who is stepping down from her cabinet position to spearhead the efforts of the new nonprofit. Rhode Island General Treasurer James Diossa will serve as chair of the nonprofit board of directors. The preparations come a year before an estimated 1 million international soccer fans are expected to travel through the Providence metro area during the seven World Cup matches hosted at Gillette, from June 13 to July 9. The Boston-area stadium is one of 16 host cities for the three-country, 48-match tournament, which spans North America. The Massachusetts matches are expected to generate more than $330 million in local economic impact, according to Gov. Dan McKee's office. Ocean State 2026 will lead business sponsorship efforts on tournament-related activities in Rhode Island while serving as a central organizer between state and local agencies, chambers of commerce, tourism bureaus and the FIFA World Cup Boston host committee before, during and after the tournament. 'Next year's international soccer matches at Gillette Stadium will bring thousands of tourists, spending millions of dollars in our cities and towns,' Diossa said in a statement. 'It truly offers an unprecedented opportunity to showcase our state while maximizing economic impact. This is bigger than soccer; it's about investing in our state's future and ensuring every community gets to benefit.' While Diossa will remain in his elected general officer role, Tanner is leaving her $238,600-a-year appointed job as Commerce secretary, which she has held since June 2022. Tanner in a statement said she looked forward to continuing to serve the state in her new role, which she called a 'once-in-a-lifetime opportunity.' Tanner's career in state government dates back to 2015, when she began working in client services for Commerce. From 2017 to 2022, she led the Rhode Island Department of Business Regulation, overseeing state financial services, cannabis regulation, building code and compliance and the Office of the State Fire Marshal, alongside a variety of professional licenses. During her three years as Commerce secretary, she oversaw expansion of broadband infrastructure through a $100 million federal grant program, alongside small business supports, including those to aid business owners affected by the Washington Bridge closure and demolition. Her last day as Commerce secretary will be July 4. An interim secretary will be named by that time, McKee's office said. Information about the search and appointment for a new, permanent Commerce secretary was not immediately available. Matt Touchette, a spokesperson for Commerce, declined to share Tanner's new salary with Ocean State 2026, noting that the nonprofit does not rely on state funding. Updated to include a response to questions about Liz Tanner's salary with Ocean State 2026. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
01-05-2025
- Business
- Yahoo
Open a new CollegeBound Saver account in May and get $250
The office of Rhode Island General Treasurer James Diossa is giving out $250 to the first 160 families who sign up during May 2025 for the state's 529 Plan. (Getty Images Plus) The first 160 Rhode Island families to open a CollegeBound Saver account for a child up to 5 years old during the month of May using a promo code are eligible to receive $250 to jumpstart their education savings. The offer was announced by the office of Rhode Island General Treasurer James Diossa Thursday in partnership with the Rhode Island Association for the Education of Young Children. 'When we talk about giving kids the best start, it's not just about those first steps — it's about building a future full of opportunity and support,' Diossa said in a statement. An account must be opened on the CollegeBound Saver website with the promo code 529Day to receive the promotion. An account takes about 10 minutes to set up, according to the website. CollegeBound Saver is Rhode Island's iteration of a 529 plan, which is intended to boost families' savings for future education costs for children or other beneficiaries. Rhode Island plan assets grow tax-deferred and withdrawals are tax free when used for higher education costs. Savings can be put toward expenses at any accredited university or college in the U.S. or abroad. They can also be used for trade and vocational schools and registered apprenticeship programs. Last year, Diossa's office participated in 529 Day, the national celebration of 529 plans, and deposited $300 contributions into new CollegeBound Saver accounts through a partnership with the Rhode Island Foundation and the Office of the Postsecondary Commissioner. That promotion lasted for 24 hours and kids ages 3 through 7 were eligible. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
04-03-2025
- Business
- Yahoo
R.I. medical debt relief program has forgiven $7 million since October
Rhode Island General Treasurer James J. Diossa has announced the forgiveness of $7 million in medical debt since a new program launched last fall. 'I hope to wipe out even more debt soon,,' Diossa said Monday, March 3, 2025. (Photo by Michael Salerno/Rhode Island Current) About 3,000 Rhode Islanders have had $7 million in medical debt forgiven since the launch of a debt relief program last October, the state's General Treasurer has announced. 'This program provides crucial relief to many who are burdened with medical debt, and I hope to wipe out even more debt soon,' said Rhode Island General Treasurer James A. Diossa in a statement Monday. There's no enrollment or application process for the program. The program administered by New York-based nonprofit Undue Medical Debt identifies, purchases and cancels the debts of eligible Rhode Islanders. Debts of $600 and up can be forgiven, and there's no maximum amount, although debts must be equal to at least 5% of a person's annual income. Any amount of debt can be forgiven for people earning less than 400% of the federal poverty level. No action is needed on the consumer's part. People whose debt is forgiven will receive a letter in the mail that identifies the amount erased. The treasurer's office calls the forgiven debt a 'no-strings-attached gift' that does not qualify as earned income. There's no obligation for people to repay the debt. Legislation in the 2024 session created the program. The Rhode Island General Assembly allocated $1 million for the program in the fiscal 2025 budget. About $50,000 of the $1 million allotment has been used so far, according to Diossa's announcement. The program uses bulk-purchasing power to buy debt from health care providers and collection agencies at a discounted price. There are more than 20 city, county and state governments nationwide that offer such programs, including Connecticut. The Rhode Island Treasury collaborates with the New York-based Undue Medical Debt to buy debt from providers like hospitals and physician groups as well as debt collectors. About a third of the fiscal 2025 allotment, around $370,000, covers overhead for Undue Medical Debt. The nonprofit was founded by ex-debt collectors in 2014 and has helped forgive about $15 billion in medical debt across the country since then. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
04-03-2025
- Health
- Yahoo
RI forgives more than $7M in medical debt through new initiative
PROVIDENCE, R.I. (WPRI) — The Rhode Island Medical Debt Relief Program, which launched last fall, has already forgiven more than $7 million worth of unpaid medical debt, General Treasurer James Diossa announced Monday. Diossa said more than 3,000 Rhode Islanders have benefited from the initiative, which purchases, cancels and forgives qualifying medical debt. So far, the initiative has leveraged approximately $50,000 to purchase medical debt from health care providers. The state treasury teamed up with Undue Medical Debt to launch the program, for which the R.I. General Assembly allocated $1 million, back in October. RELATED: Rhode Island launches new medical debt relief program 'Many Rhode Islanders face significant challenges due to medical bills, which can prevent access to necessary treatment,' Diossa said. 'This program provides crucial relief to many who are burdened with medical debt, and I hope to wipe out even more debt soon.' Undue Medical Debt is a national charity that specializes in purchasing medical debt from healthcare providers and debt collectors. To date, the charity has abolished nearly $15 billion worth of medical debt nationwide. Rhode Islanders whose medical debt has already been forgiven will receive Undue Medical Debt-branded notification letters in the mail this week detailing the amount of debt forgiven and the former debt holder. LEARN MORE: Rhode Island Medical Debt Relief Program Medical debt forgiven through the initiative is considered a no-strings-attached gift that does not count as earned income or incur taxes. There is no application process for the program, and qualifying debt will automatically be canceled as it is identified and acquired. Rhode Islanders are eligible for relief if their medical debt equals 5% or more of their estimated annual income or if their estimated annual income is at or below 400% of the federal poverty line. Diossa plans on making subsequent announcements as more medical debt is acquired. Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
29-01-2025
- Business
- Yahoo
Longtime RI pension chief Frank Karpinski to retire
PROVIDENCE, R.I. (WPRI) — The man who has managed Rhode Island's state pension system for nearly a quarter-century is stepping aside. Frank Karpinski, executive director of the Employees Retirement System of Rhode Island, has informed General Treasurer James Diossa that he plans to retire by the close of the current state fiscal year on June 30. ERSRI is the agency responsible for administering benefits for over 60,000 retired and active workers who are enrolled in the state pension system. Karpinski joined ERSRI in 1994 as its director of finance, and has held the top job since 2001. 'Frank's tenure and contributions to ERSRI and the state have been remarkable,' Diossa, who chairs the state retirement board, said in a statement. 'His unparalleled knowledge and insightful guidance have been essential in ensuring our continued focus on serving ERSRI members and all Rhode Islanders,' Diossa said. 'We are incredibly grateful for his dedication and leadership throughout his tenure, and we look forward to ensuring a seamless transition as we search for a new executive director.' A spokesperson for the treasurer's office said a national search will be conducted to identify a successor to Karpinski. Ted Nesi (tnesi@ is a Target 12 investigative reporter and 12 News politics/business editor. He co-hosts Newsmakers and writes Nesi's Notes on Saturdays. Connect with him on Twitter, Bluesky and Facebook. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
