The bill amends Section 44-3-3 of the General Laws, updating the list of properties exempt from taxation. It includes properties such as those belonging to the state, the United States, certain securities, real estate for military purposes, public schools, religious worship, and clergy dwellings. The bill also exempts intangible personal property held by various organizations, including religious, charitable, educational, and veterans' organizations, as well as properties used for educational or charitable purposes, and those leased to non-exempt entities. It specifies exemptions for household items, improvements for fallout protection, and outlines a memorandum of agreement with the town of Smithfield. The bill defines a manufacturer and their inventory, excluding certain entities and processes, and exempts property used for pollution control, manufacturing machinery and equipment, precious metal bullion, and hydroelectric power-generation equipment. It mandates the department of revenue to assist local assessors and places the burden of proof for machinery usage on the manufacturer.

The bill further details exemptions for hydroelectric equipment, properties held by charitable organizations, personal property used for recycling or hazardous waste treatment, motorboats, and properties of specific non-profit organizations in Cranston. It exempts renewable energy resources in residential systems and those used by manufacturers, and allows for exemptions of business or personal property within Charlestown's community limits. It lists properties owned by Rhode Island nonprofit corporations, granting tax-exempt status to organizations like the Wildlife Rehabilitators Association of Rhode Island, and specifies the tax valuation process for for-profit hospital facilities. Cities, towns, and fire districts are permitted to establish exemptions for tangible personal property, which must be uniformly applied and comply with local and state requirements. The bill is intended to take effect upon passage, with no specific insertions or deletions marked in the provided text.

Statutes affected:
8085: 44-3-3