2016 -- H 7955

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LC005480

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2016

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A N   A C T

RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION--TOWN OF EXETER

     

     Introduced By: Representatives Costa, and Price

     Date Introduced: March 17, 2016

     Referred To: House Municipal Government

     It is enacted by the General Assembly as follows:

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     SECTION 1. Chapter 44-3 of the General Laws entitled "Property Subject to Taxation" is

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hereby amended by adding thereto the following section:

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     44-3-21.1. Town of Exeter -- Renewable energy systems -- Tax stabilization. -- (a)

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Notwithstanding the provisions of ยงยง44-3-3(20) and 44-3-3(22), the town council of the town of

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Exeter may, by ordinance, either tax and/or provide for the exemption from payment of real and

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personal property taxes, in whole or in part, or may provide for the stabilization of the amount of

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real and personal property taxes on, property used for the production of renewable energy.

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     (b) In furtherance thereof, the town council may enter into agreements for payments in

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lieu of taxes. Any particular exemption, stabilization plan, or agreement shall be effective for any

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period determined by resolution.

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     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION--TOWN OF EXETER

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     This act would authorize the town of Exeter to enter into tax stabilization agreements,

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including agreements for payments in lieu of taxes with respect to renewable energy facilities.

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     This act would take effect upon passage.

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