The bill amends Section 44-5-11.8 of the General Laws concerning the classification of property for local tax purposes. It allows the town council of New Shoreham, in lieu of a homestead exemption, to adopt a tax classification plan that divides residential real estate into non-owner and owner-occupied properties. This enables the adoption of separate tax rates for each category. The town is required to establish rules and regulations governing the division and definition of non-owner and owner-occupied properties.

The act takes effect upon passage, allowing the town of New Shoreham to implement these changes in its tax classification plan.

Statutes affected:
6090: 44-5-11.8
6090  SUB A: 44-5-11.8