This bill makes several amendments to the General Laws regarding property tax exemptions in Rhode Island. It adds a new section that lists the types of property that are exempt from taxation, including property belonging to the state, lands ceded or belonging to the United States, and property used for military, educational, religious, or charitable purposes. The bill also allows the town of Smithfield to bill a private nonprofit college or university for certain services.

The bill also amends the definition of "manufacturer" to exclude certain businesses and provides definitions for "manufacturer's inventory" and "person." It provides exemptions for water or air pollution control facilities, manufacturing machinery and equipment used for research and development or quality assurance, precious metal bullion, and hydroelectric power-generation equipment.

Additionally, the bill adds exemptions for tangible personal property used for recycling or treatment of hazardous waste, motorboats, non-profit organizations, and renewable energy resources. It also includes exemptions for specific properties owned by qualified organizations, such as lighthouses, performing arts centers, and educational institutions. The bill also exempts the property of PACE Organization of Rhode Island from taxation, as long as the organization is qualified as a tax-exempt corporation under the Internal Revenue Code.

Statutes affected:
533: 44-3-3