The bill amends Section 44-3-3 of the General Laws to update the list of property exempt from taxation. It includes property owned by the state, the United States, religious and educational institutions, veterans' organizations, and individuals unable to pay taxes due to infirmity or poverty, among others. Notable provisions include the potential billing of a private nonprofit college or university in Smithfield for municipal services if no agreement is reached with the town, and the allowance for the city council of Cranston to exempt certain property of veterans' organizations up to $500,000. The bill also addresses tax liens and exemptions for individuals in the towns of Burrillville and West Greenwich, with a five-year lien period on exempt property.

The bill defines a manufacturer and the conditions under which a business is considered primarily engaged in manufacturing, excluding certain operations like public utilities and construction. It details tax exemptions for property and equipment used in pollution control, manufacturing, research and development, and quality assurance. The bill also exempts precious metal bullion, hydroelectric power-generation equipment, and property owned by or leased to certain charitable organizations. It further outlines exemptions for tangible personal property used in recycling, hazardous waste treatment, and properties of various non-profit organizations. Additionally, the bill proposes an exemption for Wood River Health Services, Inc., and addresses the valuation process for for-profit hospital facilities' real property, as well as allowing local exemptions for tangible personal property to promote economic development. The act is effective upon passage.

Statutes affected:
598: 44-3-3