The bill amends Section 44-3-3 of the General Laws, detailing property tax exemptions for various entities and types of property, including those belonging to the state, religious organizations, educational institutions, and certain nonprofit organizations. It specifies conditions for tax exemptions on properties used by non-exempt entities, such as healthcare facilities or institutions of higher education, and allows for municipal discretion in exempting veterans' organization property. The bill also defines terms related to manufacturing and provides tax exemptions for pollution control, manufacturing machinery, and equipment acquired after December 31, 1974. Additionally, it includes provisions for urban farmers, offering tax incentives for properties used in agricultural operations and defining relevant terms such as "urban farmland" and "urban farmer."

The bill further introduces a land use change tax for properties previously classified under the urban farmer exemption but no longer used as urban farmland, with a sliding scale of additional taxes based on the duration of classification. It also expands the definition of "net income" to include income from urban and small farming operations. The bill amends sales and use tax laws, exempting various items and services, including food and food ingredients, prescription medicines, and adaptive equipment for persons with disabilities. It also provides tax exemptions for urban farmers, defining activities that qualify as agricultural operations and management practices considered acceptable for urban farming. The bill aims to support urban and small-scale agriculture by providing tax incentives and recognizing urban farming within the legislative framework.

Statutes affected:
7684: 44-3-3, 44-11-11, 44-18-30