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. It introduces new provisions that will take effect on January 1, 2025, including a modification that allows for the subtraction of all taxable social security income from federal adjusted gross income for tax years beginning on or after January 1, 2026. The act aims to provide tax relief and adjustments for residents concerning social security benefits, thereby enhancing the overall tax framework in Rhode Island.

Statutes affected:
409: 44-30-12