This bill makes several amendments to the General Laws regarding property taxation in Rhode Island. It adds a new section that lists the types of property exempt from taxation, including property belonging to the state, lands belonging to the United States, real estate used for military purposes, buildings for public schools and religious worship, property owned by religious or charitable organizations, property used for educational purposes, burial grounds, property held by libraries or nonprofit hospitals, property belonging to veterans organizations, property held by fraternal organizations, property of volunteer fire engine companies or ambulance or rescue corps, property of individuals unable to pay taxes, household furniture and family stores, improvements made for fallout protection, and aircraft for which the required fee has been paid. 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 types of businesses and includes definitions for "manufacturer's inventory" and "person." It provides exemptions for property used for water or air pollution control facilities, manufacturing machinery and equipment, research and development or quality assurance equipment, precious metal bullion, hydroelectric power-generation equipment, and property owned by charitable organizations. The bill also adds several organizations and properties to the list of entities exempt from property taxes, including the Providence Performing Arts Center, religious organizations in Cranston, the Travelers Aid Society of Rhode Island, the Meeting Street Center, the buildings and land on Pomham Island, the Stadium Theatre Performing Arts Centre in Woonsocket, the Rhode Island Philharmonic Orchestra and Music School, the Station Fire Memorial Foundation, and the Pawtucket Youth Soccer Association. The bill also exempts the Brain Injury Association of Rhode Island, Inc. from property taxation.

Statutes affected:
6478: 44-3-3