The bill amends Section 44-3-3 of the General Laws in Chapter 44-3, titled "Property Subject to Taxation," to update the list of properties exempt from taxation. Key insertions include a new section title, "44-3-3. Property exempt," and a comprehensive list of specific exemptions for various properties and organizations, such as state-owned properties, public school buildings, religious institutions, healthcare facilities, and properties owned by nonprofit organizations like the American Lighthouse Foundation. The bill also introduces exemptions for tangible personal property used for recycling hazardous waste and specifies that properties leased to non-exempt entities will be taxed. Additionally, it sets conditions for exemptions related to veterans' organizations and individuals unable to pay taxes due to infirmity or poverty.

The bill also includes several deletions, likely removing outdated exemptions or clarifying existing ones, although specific deletions are not detailed in the text. It further outlines provisions for tax exemptions related to manufacturing, educational institutions, and various goods and services, including food, medical equipment, and motor vehicles for individuals with disabilities. Notably, it repeals the property tax and sales tax exemption for boats, reflecting a policy shift in their taxation status. Overall, the bill aims to refine the tax code, enhance support for nonprofit organizations, and promote environmental sustainability through targeted tax incentives.

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