The bill amends Section 44-30-12 of the General Laws in Chapter 44-30, which pertains to personal income tax for Rhode Island residents. A significant insertion in the bill is the provision allowing individuals to subtract up to twenty thousand dollars ($20,000) of social security income from their federal adjusted gross income for tax years beginning on or after January 1, 2025. The bill specifies that this modification applies to tax years beginning on or after January 1, 2025, and takes effect upon passage.

Statutes affected:
33: 44-30-12