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 new legal language that specifies the effective date of the section as January 1, 2025. The bill increases the federal adjusted gross income threshold for modifications related to taxable Social Security income. Specifically, for tax years beginning on or after January 1, 2025, the income thresholds will rise to $125,000 for unmarried individuals and $170,000 for married couples filing jointly.

Additionally, the bill modifies the provisions regarding taxable retirement income from certain pension plans or annuities, although the specific details of these modifications are not included in the provided text. The act will take effect upon passage.

Statutes affected:
776: 44-30-12