The bill amends Section 44-3-3 of the General Laws to update the list of property exempt from taxation. It includes property belonging to the state, the United States, certain securities, real estate for military purposes, buildings for public schools and religious worship, and dwellings for clergy. Exemptions are also provided for intangible personal property held for religious or charitable purposes, educational institutions, burial grounds, libraries, veterans' organizations, fraternal bodies, volunteer fire and ambulance services, and individuals unable to pay taxes due to infirmity or poverty. Additionally, the bill exempts household furniture, personal items, improvements for nuclear fallout protection, aircraft with paid fees, and manufacturer’s inventory. It also addresses tax liens and exemptions for individuals in specific towns, 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 public utilities, building and construction contractors, warehousing operations, and certain fabricating processes. It exempts real and tangible personal property used to control pollution, manufacturing machinery and equipment acquired or used after December 31, 1974, precious metal bullion, hydroelectric power-generation equipment purchased after July 1, 1979, and property owned by or leased to certain charitable organizations. The bill also proposes an exemption for the Little Flower Home, provided it maintains its 501(c)(3) status, and includes provisions for the taxation of for-profit hospital facilities, allowing cities, towns, or fire districts to establish exemptions for tangible personal property to promote economic development. The act would take effect upon passage.

Statutes affected:
983: 44-3-3