The bill amends Section 44-3-3 of the General Laws in Chapter 44-3 by repealing the property tax exemption for motorboats and the sales and use tax exemption for boats. Specifically, it deletes the previous exemption for motorboats that required an annual fee and removes the exemption for the sale, storage, use, or other consumption of any new or used boat. This change subjects these transactions to standard taxation.

The bill introduces a new section titled "Property exempt," which details various categories of property exempt from taxation, including state-owned properties, U.S. lands, and real estate used for military purposes. It also specifies exemptions for properties owned by religious organizations, educational institutions, and certain charitable organizations, while outlining the conditions for these exemptions.

Additionally, the bill includes provisions for licensed non-motorized recreational vehicle dealers regarding the collection and remittance of sales and use tax on sales to bona fide nonresidents, requiring dealers to consider the trade-in laws of the nonresident's state. The bill clarifies definitions related to non-motorized recreational vehicles and outlines various tax exemptions for renewable energy products, dietary supplements, and feminine hygiene products, aiming to streamline tax regulations and enhance compliance. The act would take effect upon passage.

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