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, religious and educational buildings, and dwellings for clergy. It also exempts intangible personal property held by various organizations, properties used for educational or charitable purposes, and specifies conditions for properties leased to non-exempt entities. The bill defines a manufacturer for tax purposes, excluding certain businesses like public utilities and small-scale producers, and exempts manufacturing machinery and equipment, as well as hydroelectric power-generation equipment, from taxation. It also details the tax-exempt status of properties owned by various Rhode Island nonprofit corporations, including a new insertion for the Wildlife Rehabilitators Association of Rhode Island and a deletion after the listing for the Little Flower Home.

Additionally, the bill addresses the taxation of for-profit hospital facilities, outlining the valuation process and allowing cities or towns to enter into stabilization agreements with such facilities. It permits local exemptions for tangible personal property, provided they are uniformly applied and comply with tax classification requirements. The bill exempts the real and tangible personal property of the Wildlife Rehabilitators Association of Rhode Island and states that the act will take effect upon passage. There are no specific insertions or deletions marked in this section of the text.

Statutes affected:
2967: 44-3-3