This bill amends Section 44-5-9 of the General Laws in Chapter 44-5, which relates to the levy and assessment of local taxes. The bill inserts new language that allows cities and towns to provide for a deduction from the tax assessed against any person if paid by a certain time, or for penalties by way of a percentage on a tax if not paid on time. The bill also deletes the current provision that allows a penalty of up to eighteen percent (18%) per annum and replaces it with a new provision that limits the penalty to twelve percent (12%) per annum. The bill specifies that the city of Cranston may charge a penalty not exceeding twelve percent (12%) per annum. This act would take effect upon passage.

Statutes affected:
2590: 44-5-9