The bill amends Section 44-3-3 of the General Laws, which deals with property taxation, to include new exemptions and clarify existing ones, effective January 1, 2024. It exempts properties owned by religious organizations and used by clergy or as convents, nunneries, or retreat centers in the town of Charlestown. It also introduces a provision for private nonprofit colleges and universities in the town of Smithfield, which may be billed for actual costs of municipal services unless an agreement is reached with the town. The bill defines a manufacturer and their inventory for tax purposes, excluding certain small-scale producers and operations, and exempts manufacturing machinery and equipment, as well as hydroelectric power-generation equipment, from taxation.

Additionally, the bill exempts various properties owned by charitable organizations, particularly those focused on conserving open space, recycling, and hazardous waste treatment. It also exempts motorboats with paid annual fees, properties of specific non-profit organizations, properties used exclusively for religious purposes in the city of Cranston, renewable energy resources used in residential systems and by manufacturers, and allows for exemptions of tangible business or personal property within the town of Charlestown's community limits. The bill includes a provision for the Providence Preservation Society's property to be tax-exempt effective September 1, 2025, and addresses the taxation of for-profit hospital facilities. It also permits local exemptions for tangible personal property to support businesses and economic development. The act will take effect upon passage.

Statutes affected:
3067: 44-3-3