The bill amends Section 44-3-3 of the General Laws, which pertains to property subject to taxation, and is set to take effect on January 1, 2024. It provides a comprehensive list of property types that are exempt from taxation, including those owned by the state, federal government, religious and educational institutions, veterans' organizations, and properties used for charitable purposes. A significant insertion is the full exemption for properties owned by religious organizations in the town of Charlestown, and a provision for billing private nonprofit colleges or universities in the town of Smithfield for municipal services if no agreement is reached with the town. The bill also defines a manufacturer and their inventory for taxation purposes, and it exempts certain manufacturing-related properties, such as those used for pollution control and manufacturing machinery.

Additionally, the bill exempts hydroelectric power-generation equipment, properties held by charitable organizations, and tangible personal property used for recycling or hazardous waste treatment. It lists specific exemptions for nonprofit organizations and properties in Rhode Island, including performing arts centers and various other nonprofit corporations. A new insertion grants a partial tax exemption to the Rhode Island Coalition Against Domestic Violence for a property lease in Warwick. The bill also addresses the taxation of for-profit hospital facilities, allowing them to appeal tax assessments and enter into stabilization agreements with local governments. Cities, towns, and fire districts are authorized to establish exemptions for tangible personal property to support business and economic development, with the requirement that these exemptions be uniformly applied. The act will take effect upon passage, and no deletions are mentioned in the provided text.

Statutes affected:
3024: 44-3-3