Rhode Island § 35-24-5 - Rhode Island Baby Bond Trust
Full text of Rhode Island Rhode Island General Laws § 35-24-5 — Rhode Island Baby Bond Trust, with citation guidance and answers to common questions.
§ 35-24-5. Rhode Island Baby Bond Trust
R.I. Gen. Laws § 35-24-5
§ 35-24-5. Exemption from taxation.
(a) The property of the trust and the earnings on the trust shall be exempt from all taxation by the state and all political subdivisions of the state. Distributions made pursuant to § 35-24-7 shall be considered income subject to taxation in accordance with chapter 30 of title 44 and shall be subject to federal and state withholdings.
(b) The tax administrator may adopt rules and regulations necessary to monitor, implement, and administer the Rhode Island personal income tax provisions referred to in subsection (a) of this section.
History of Section.
P.L. 2025, ch. 399, § 1, effective July 2, 2025; P.L. 2025, ch. 400, § 1, effective
July 2, 2025.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 35-24-5
What does Rhode Island General Laws § 35-24-5 cover?
Section 35-24-5 ("Rhode Island Baby Bond Trust") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 35-24-5?
A common citation format is "Rhode Island General Laws § 35-24-5" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 35-24-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.