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 clarifies the types of property exempt from taxation. It specifies various categories of exempt properties, including those owned by the state, federal government, and certain educational and religious organizations, as well as properties used for military purposes, burial grounds, and those held by charitable organizations.

Notably, the bill includes a new exemption for the real and tangible personal property of Amos House, a Rhode Island domestic nonprofit corporation, provided that the organization remains a qualified tax-exempt corporation under section 501(c)(3) of the United States Internal Revenue Code. This exemption specifically applies to property located in the city of Providence.

The act is set to take effect upon passage.

Statutes affected:
3370: 44-3-3
3370  SUB A: 44-3-3