2021 -- S 0444 | |
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LC002242 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2021 | |
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A N A C T | |
RELATING TO TAXATION - INTEREST CHARGES ON OVERDUE PROPERTY TAX | |
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Introduced By: Senators Raptakis, Anderson, Bell, Paolino, Morgan, and de la Cruz | |
Date Introduced: February 25, 2021 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 44-5-9 of the General Laws in Chapter 44-5 entitled "Levy and |
2 | Assessment of Local Taxes" is hereby amended to read as follows: |
3 | 44-5-9. Deductions and penalties to insure prompt payment. |
4 | Any city or town may provide for a deduction from the tax assessed against any person, if |
5 | paid by an appointed time, or for the penalties by way of percentage on a tax, if not paid at the time |
6 | appointed, not exceeding eighteen percent (18%) twelve percent (12%) per annum, as it deems |
7 | necessary to insure punctual payment; provided, that the city of Cranston may charge a penalty not |
8 | exceeding twelve percent (12%) per annum. |
9 | SECTION 2. This act shall take effect upon passage. |
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LC002242 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO TAXATION - INTEREST CHARGES ON OVERDUE PROPERTY TAX | |
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1 | This act would establish a statewide limit of twelve percent (12%) per year on interest |
2 | charged by cities and towns on delinquent taxes. |
3 | This act would take effect upon passage. |
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LC002242 | |
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