The bill amends Section 44-3-3 of the General Laws, adding exemptions for various properties from taxation. These exemptions include properties belonging to the state, the United States, religious and educational organizations, veterans and fraternal organizations, volunteer fire and ambulance services, individuals unable to pay taxes due to infirmity or poverty, household items, and improvements for nuclear fallout protection. The bill also exempts aircraft fees paid to the tax administrator, defines "manufacturer's inventory" and "manufacturer," and provides exemptions for manufacturing machinery and equipment, precious metal bullion, and hydroelectric power-generation equipment.

Furthermore, the bill specifies tax exemptions for tangible personal property used for recycling, motorboats with paid annual fees, and properties owned by certain nonprofit organizations, including Steere House, Tides Family Services, and others. It introduces a deletion after the property owned by Little Flower Home and an insertion exempting the tangible personal property of Northwest Community Health Care d/b/a WellOne Primary Medical and Dental Care. The bill also allows for local exemptions to promote economic development and details the valuation process for for-profit hospital facilities. The act will be effective upon passage, indicating an immediate application of the tax exemptions.

Statutes affected:
7753: 44-3-3