The bill amends Section 44-30-2.6 of the General Laws in Chapter 44-30, which governs Rhode Island's personal income tax. It introduces new legal language establishing that for tax years beginning on or after January 1, 2027, a taxpayer entitled to a federal earned-income credit shall be allowed a Rhode Island earned-income credit equal to thirty percent (30%) of the federal earned-income credit. This Rhode Island earned-income credit shall not exceed the amount of the Rhode Island income tax. The act is set to take effect upon passage, allowing for immediate implementation of the increased earned-income credit for eligible taxpayers starting in 2027.

Statutes affected:
2364: 44-30-2.6