The bill amends Section 45-13-5.1 of the General Laws in Chapter 45-13, which pertains to state aid in lieu of property tax for certain exempt properties. It introduces new provisions that include municipal detention facility corporations as entities eligible for tax exemption under state law. Consequently, the General Assembly is required to annually appropriate a sum equal to twenty-seven percent (27%) of the local real property tax that would have been collected on these properties if they were taxable. This appropriation is intended to be paid to the cities and towns where the exempt properties are located.

The bill also clarifies that no city or town can simultaneously record both taxes and payments under a stabilization agreement with a for-profit hospital facility, along with distributions of appropriations related to the prior nonprofit status of that facility. Additionally, it emphasizes that the state budget offices must include the annual appropriation in the state budget and outlines the process for distributing these appropriations to municipalities. The act is set to take effect upon passage.

Statutes affected:
32: 45-13-5.1