The bill amends Section 44-3-3 of the General Laws in Chapter 44-3, which addresses property subject to taxation, by introducing new legal language that specifies the types of property exempt from taxation. It includes various categories of exempt properties, such as those owned by the state, federal government, and certain educational and religious organizations, as well as properties used for military purposes, public schools, and libraries. The bill outlines conditions for exemptions related to healthcare facilities and manufacturing equipment, emphasizing that properties leased to non-exempt entities will be taxed to the tenant. It also establishes guidelines for exemptions concerning pollution control facilities and recycling operations, while ensuring that certain properties, such as manufacturing machinery and equipment, are appropriately taxed based on their usage and ownership.

Additionally, the bill proposes a new exemption for the real and tangible personal property of the Blackstone Valley Advocacy Center, a Rhode Island nonprofit corporation, specifically identifying properties located at 728 Broad Street and 522 Public Street within the city of Providence, on Assessors Plat 48, Lot 916, and Assessors Plat 48, Lot 432. The act is set to take effect upon passage, indicating that these changes will be implemented immediately once approved.

Statutes affected:
8508: 44-3-3