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 modification to federal adjusted gross income for taxpayers, allowing deductions for qualified tips and overtime income in alignment with federal tax provisions. Specifically, the bill allows for modifications equal to the amounts specified in the Internal Revenue Code for qualified tips, as provided in 26 U.S.C. 224(d), and for qualified overtime compensation, as provided in 26 U.S.C. 225. The act is designed to take effect immediately upon passage, ensuring that taxpayers can benefit from these modifications in their income calculations without delay.

Statutes affected:
3017: 44-30-12