The bill amends Section 44-18-30 of the General Laws in Chapter 44-18, titled "Sales and Use Taxes — Liability and Computation," to clarify and expand the exemptions from sales and use taxes in the state. Notable insertions include a new title for the section, "44-18-30. Gross receipts exempt from sales and use taxes," and detailed definitions for terms such as "newspaper," "returnable containers," and "consumed" in the context of manufacturing. The bill outlines various exemptions, including those for newspapers, school meals, charitable organizations, gasoline, and manufacturing-related purchases. It also specifies the tax exemption process for contractors working with exempt organizations and conditions under which certain tangible personal property and utilities used in manufacturing are exempt from taxation.

Additionally, the bill introduces a new sales tax exemption for school supplies, applicable for one week prior to the start of the academic year, covering items like binders and notebooks priced under $30. This exemption is optional for businesses with low sales of eligible items. Other exemptions include those for food items, medicines, vehicles for nonresidents, and various equipment for individuals with disabilities. The bill aims to alleviate financial burdens on families and enhance clarity regarding tax exemptions, with no deletions from current law explicitly mentioned in the provided text.