This bill amends Section 44-3-9 of the General Laws to authorize the city of Providence to enter into a thirty-year tax exemption agreement for property located at the Port of Providence. The agreement would exempt the property from payment of real and personal property taxes, or determine a stabilized amount of taxes to be paid on the property. The authority to enter into this agreement is in addition to the authority to enter into a twenty-year tax exemption agreement that is set to expire on September 30, 2024. This bill would take effect upon passage.

Statutes affected:
923: 44-3-9