Increases the income range up to fifty thousand dollars ($50,000) and tax credit up to eight hundred fifty dollars ($850), for elderly and disabled persons who own or rent their homes.
Establishes a child tax credit of one thousand dollars ($1,000) per dependent.
Establishes a child tax credit of one thousand dollars ($1,000) per dependent.
Increases insurance coverage for hearing aids from one thousand five hundred dollars ($1,500) to one thousand seven hundred fifty dollars ($1,750), per ear, for all people regardless of age effective January 1, 2026.
Increases insurance coverage for hearing aids from one thousand five hundred dollars ($1,500) to one thousand seven hundred fifty dollars ($1,750), per ear, for all people regardless of age effective January 1, 2026.
Allows a modification to federal adjusted gross income of twenty thousand dollars ($20,000) of social security income for tax years beginning on or after January 1, 2025.
Allows an income tax credit for employer contributions to an eligible employee's ABLE account, for a maximum credit of two thousand dollars ($2,000) per employee, per year.
Increases the Rhode Island earned-income credit to twenty percent (20%) on January 1, 2026. Such credit would not exceed the amount of state income tax.
Increases the state earned-income credit as of January 1, 2026 to seventeen percent (17%) of the federal earned-income credit, not to exceed the amount of state income tax.
Gradually phases in modifications to federal adjusted gross income over a four (4) year period for social security income, from twenty-five percent (25%) up to one hundred percent (100%), beginning on or after January 1, 2026.