The bill amends Section 45-13-5.1 of the General Laws in Chapter 45-13, which pertains to state aid in lieu of property tax for certain exempt private and state properties. The key change includes increasing the percentage of state aid from twenty-seven percent (27%) to thirty percent (30%) of the property taxes that would have been collected if the properties were taxable. This increase applies to real property owned by private nonprofit institutions of higher education, the Pokanoket Management Group, nonprofit hospital facilities, and state-owned hospitals, veterans residential facilities, or correctional facilities with more than one hundred residents.

The bill also removes language regarding adjustments to the percentage and provisions related to the state budget offices' inclusion of the annual appropriation in the state budget. It clarifies that municipalities will receive grants based on the assessment list as of December 31, 1986, and subsequent assessment dates, with a specific provision for the fiscal year ending June 30, 2008, based on the December 31, 2004 assessment list. The act is set to take effect upon passage.

Statutes affected:
2552: 45-13-5.1