The bill amends Section 44-3-3 of the General Laws, detailing various property tax exemptions in Rhode Island, effective January 1, 2024. It exempts property belonging to the state, the United States, certain securities, real estate for military purposes, public schools, religious worship, and dwellings for clergy. It also exempts intangible personal property for religious or charitable purposes, educational institutions, property of Brown University's officers, property especially exempt by charter, burial grounds, libraries, charitable organizations, veterans' organizations, fraternal bodies, volunteer services, and individuals unable to pay taxes due to infirmity or poverty. Household items and improvements for fallout protection are exempt, and property used by non-exempt entities in healthcare facilities or institutions of higher education will be taxed to the tenant. The city of Cranston may exempt veterans' organization property up to $500,000, and the bill includes provisions for liens and appeals related to tax exemptions.

The bill defines a "manufacturer" and "manufacturer's inventory," and provides tax exemptions for pollution control property, manufacturing machinery and equipment, and allows municipalities to exempt certain machinery and equipment. It exempts hydroelectric power-generation equipment, property for conserving open space, tangible personal property for recycling, motorboats with paid fees, properties of nonprofit organizations like the Providence Performing Arts Center, Meeting Street Center, and the American Lighthouse Foundation, properties of religious organizations, charitable nonprofits, educational institutions, renewable energy resources, and business or personal property 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 Rhode Island cities and towns.

Statutes affected:
8206: 44-3-3