The bill amends Section 44-3-3 of the General Laws, introducing tax exemptions for various properties and organizations within 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. The bill also specifies that private nonprofit colleges or universities in the town of Smithfield may be billed for actual costs of municipal services unless an agreement is reached with the town. It defines manufacturers and their inventories, excluding certain operations, and outlines exemptions for manufacturing machinery and equipment, as well as hydroelectric power-generation equipment. The bill mandates the department of revenue to assist local assessors and places the burden of proof for manufacturing machinery usage on the manufacturer.

Furthermore, the bill exempts properties owned by charitable organizations, particularly those conserving open space, and tangible personal property used for recycling or hazardous waste treatment. It grants tax exemptions to motorboats with paid fees, properties used exclusively for religious purposes in the city of Cranston, and various nonprofit organizations, provided they meet certain conditions. The bill also includes a new provision exempting the Little Compton Game Club from real and tangible personal property tax. Additionally, it addresses the taxation of for-profit hospital facilities, allowing them to appeal assessed values and permitting local exemptions for tangible personal property to support businesses and economic development. The act will take effect upon passage, with no deletions mentioned in the provided text.

Statutes affected:
2588: 44-3-3