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 categories of property exempt from taxation. A significant addition in the bill is the exemption from taxation for the real and tangible personal property of PROJECT Weber/RENEW, a Rhode Island domestic nonprofit corporation, provided it qualifies as a tax-exempt organization under 26 USC 501(c)(3) of the Internal Revenue Code. The act is set to take effect upon passage.

Statutes affected:
5512: 44-3-3