The bill amends Section 44-30-12 of the General Laws in Chapter 44-30, which pertains to Rhode Island's personal income tax. It introduces a new provision that allows for a modification of all taxable pension and/or annuity income included in federal adjusted gross income for tax years beginning on or after January 1, 2026. This modification is intended to provide tax relief to individuals receiving pension and annuity income, thereby potentially reducing their overall tax burden. The act is set to take effect upon passage.

Statutes affected:
5761: 44-30-12