The bill amends Section 44-3-3 of the General Laws to update the list of properties exempt from taxation, adding a new title "44-3-3. Property exempt," and specifying various exemptions for entities such as state-owned property, lands belonging to the United States, public school buildings, religious organizations, educational institutions, healthcare facilities, libraries, veteran organizations, and more. It sets conditions for exemptions, such as a cap on the amount for veterans' organizations and conditions for tax liens in cases of infirmity or poverty. The bill also addresses the billing of actual costs for services provided to private nonprofit corporations by the town of Smithfield, unless an agreement is reached.

The bill defines "manufacturer" and "manufacturer's inventory," and provides tax exemptions for pollution control equipment, manufacturing machinery and equipment acquired after December 31, 1974, and allows municipalities to exempt certain machinery and equipment from taxation. It also exempts hydroelectric power-generation equipment, properties owned by or leased to organizations focused on conserving open space, and tangible personal property used for recycling from hazardous wastes. The bill includes exemptions for motorboats, properties of various nonprofit organizations and corporations, renewable energy resources, and allows for exemptions within the town of Charlestown's community limits. It also exempts real and personal property of various other nonprofit organizations and educational institutions within specific cities and towns in Rhode Island. The bill includes insertions and deletions to the current law, such as adding the Wildlife Rehabilitators Association of Rhode Island to the tax-exempt list and allowing cities, towns, or fire districts to establish exemptions for tangible personal property to promote economic development. The act would take effect upon passage.

Statutes affected:
8085: 44-3-3