The bill amends Section 44-3-3 of the General Laws to update the list of properties and organizations exempt from taxation in Rhode Island, effective January 1, 2024. It includes a significant insertion that grants full tax exemption to properties owned by religious organizations and used by clergy or as convents, nunneries, or retreat centers in the town of Charlestown. Additionally, it mandates that private nonprofit colleges or universities in the town of Smithfield must reach an agreement with the town for police, fire, and rescue services costs, or be billed for the actual costs starting March 1, 2014. The bill also defines manufacturers and their equipment for tax purposes, specifying that a person is considered principally engaged in manufacturing if more than 50% of their gross receipts in the state come from manufacturing operations. It exempts from taxation property used for pollution control, manufacturing machinery and equipment, precious metal bullion, and hydroelectric power-generation equipment, among other items.

Furthermore, the bill provides tax exemptions for motorboats with paid annual fees, properties of specific non-profit organizations, properties used exclusively for religious purposes in the city of Cranston, and renewable energy resources used in residential systems or by manufacturers. It also allows the town of Charlestown's council to authorize exemptions for tangible business or personal property within community limits. The bill lists numerous nonprofit corporations and their properties, such as Steere House, Tides Family Services, and Lucy's Hearth, granting them tax-exempt status. It deletes and inserts specific items in the legal language, including the exemption for tangible personal property of Northwest Community Health Care d/b/a WellOne Primary Medical and Dental Care (item 83). The bill also permits local authorities to establish exemptions to promote business growth and economic development, and it is set to take effect upon passage.

Statutes affected:
2552: 44-3-3