The bill amends Section 44-3-3 of the General Laws in Chapter 44-3, introducing a new section titled "Property exempt," which details various categories of property exempt from taxation. It specifically repeals the property tax exemption for motorboats as defined in 46-22-2.

Additionally, the bill amends Section 44-18-30 regarding gross receipts exempt from sales and use taxes, repealing the exemption for boats or vessels. This means that the tax imposed by Sections 44-18-20 and 44-18-18 will now apply to the sale and storage, use, or other consumption of any new or used boat in the state.

The act takes effect upon passage.

Statutes affected:
6256: 44-3-3, 44-18-30