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 provision allowing a modification for up to fifty thousand dollars ($50,000) of taxable income from individual retirement accounts (IRAs) that is included in federal adjusted gross income, provided that the individual does not have any income from pensions included in their federal adjusted gross income for the taxable year. This modification is set to take effect upon the passage of the bill.

Statutes affected:
3018: 44-30-12