Rhode Island S2673 modifies state income tax to subtract student loan interest payments from federal adjusted gross income.

Rhode Island S2673 amends the state's personal income tax law to adjust federal adjusted gross income by subtracting payments of interest on student loans. This modification applies to tax years beginning on or after January 1, 2027. The bill also includes provisions for adjustments to taxable retirement income, organ transplantation expenses, Social Security income, and other modifications to federal adjusted gross income. The act takes effect upon passage.

Rhode Island S2673 modifies state income tax to subtract student loan interest payments from federal adjusted gross income.

Rhode Island S2673 amends the state's personal income tax law to adjust federal adjusted gross income by subtracting payments of interest on student loans. This modification applies to tax years beginning on or after January 1, 2027. The bill also includes provisions for adjustments to taxable retirement income, organ transplantation expenses, Social Security income, and other modifications to federal adjusted gross income. The act takes effect upon passage.