The bill amends Chapter 44-30 of the General Laws regarding personal income tax by introducing a new section, 44-30-28, which establishes a tax credit for the costs associated with connecting single-family or multi-family dwellings to municipal sewer systems. The bill allows property owners to claim a non-refundable state income tax credit equal to the actual connection costs, which can be claimed only once. The credit can be applied as either a personal or corporate income tax credit, depending on the owner's filing status at the end of their tax period. Importantly, the bill stipulates that both types of credits cannot be claimed for the same installation costs at a single location.

This act is designed to incentivize property owners to connect to municipal sewer systems by providing financial relief through tax credits. It will take effect immediately upon passage, allowing property owners to benefit from the credit as soon as the law is enacted. The bill does not include any deletions from current law, focusing solely on the new provisions for the tax credit.