This bill amends Section 44-3-3 of the General Laws to specify which properties are exempt from taxation. The bill adds a new provision that exempts property belonging to a health care facility or institution of higher education that is leased or occupied by a non-exempt entity from property taxation. The bill also adds a provision that allows the tenant of such property to be taxed as the owner. The bill also makes several other changes to the list of exempt properties, including adding property exempt by charter and property held by incorporated libraries or nonprofit hospitals. The bill also increases the exemption for property held by veterans organizations in the city of Cranston.

This bill amends current law to provide exemptions for certain types of property from taxation. The bill adds aircraft for which a fee has been paid to the tax administrator to the list of exempt properties. It also clarifies the definition of "manufacturer" and "manufacturer's inventory" for the purposes of taxation. The bill further exempts real and tangible personal property used for water and air pollution control facilities, as well as manufacturing machinery and equipment acquired or used by a manufacturer. The bill also adds exemptions for precious metal bullion and hydroelectric power-generation equipment.

Statutes affected:
924  SUB A: 44-3-3
924: 44-3-3