The bill proposes comprehensive amendments to the General Laws in Chapter 11-41, which addresses theft, embezzlement, and related offenses. Key changes include the introduction of a tiered penalty system for larceny based on the value of stolen property, with specific community service and fine amounts established for different thresholds. For example, theft of property valued at $25 or less may result in up to 20 hours of community service or a fine of up to $50. The bill also modifies penalties for attempted larceny, stipulating that such attempts will incur half the punishment of the completed offense, and it doubles the maximum penalties for larceny from a person. Additionally, the bill clarifies definitions related to shoplifting and mandates restitution to the Rhode Island crime victim compensation program for elected officials convicted of theft from campaign accounts.

Furthermore, the bill modernizes the legal framework surrounding retail theft by expanding the definition of "premises of a retail mercantile establishment" and detailing specific actions that constitute shoplifting. It removes the previous classification of shoplifting as a misdemeanor, allowing for civil restitution to merchants instead of criminal penalties, and introduces new sections addressing the theft of motor fuel and insurance fraud. The bill also amends the Public Assistance Act to restrict the use of electronic benefit transfer (EBT) cards in certain establishments and establishes civil liabilities for ATM operators that permit withdrawals from EBT cards at prohibited locations. Overall, the legislation aims to streamline penalties for theft-related offenses while enhancing protections for merchants and regulating the use of public assistance funds.