The bill amends Section 44-3-3 of the General Laws in Chapter 44-3, which addresses property subject to taxation, by adding new language that specifies exemptions for certain properties. It introduces a specific tax exemption for the real and tangible personal property of PROJECT Weber/RENEW, a Rhode Island domestic nonprofit corporation, provided that it qualifies as a tax-exempt corporation under 26 USC 501(c)(3) of the Internal Revenue Code. The act will take effect upon passage.

Statutes affected:
5512: 44-3-3