Excuse the possible naivete of this question. Since reading a nice survey article by Daniel Biss a few years ago, I'm always worried about what $P^1(R)$ is, for a ring $R$.

So that I stop worrying, I'm looking for an answer to the following question: For what (commutative, of course) rings $R$ is it true that $P^1(R)$ is naturally identifiable with the set of pairs $(a,b) \in R^2$ such that $(a,b)$ equals the unit ideal, modulo the natural action of $R^\times$?