2021 -- S 0708 | |
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LC002562 | |
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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 A TAX AGREEMENT BETWEEN THE CITY OF EAST PROVIDENCE | |
AND EXXONMOBIL OIL CORPORATION | |
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Introduced By: Senator Valarie J. Lawson | |
Date Introduced: March 26, 2021 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. The city of East Providence is hereby authorized to enter into a tax treaty |
2 | agreement with respect to property owned by ExxonMobil Oil Corporation on Wampanoag Trail. |
3 | The tax treaty shall include, but not be limited to, adjusted assessments, tax credits, future sales and |
4 | development of the property. The tax treaty must be ratified by the East Providence city council |
5 | and the term shall not exceed ten (10) years. |
6 | SECTION 2. This act shall take effect upon passage. |
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LC002562 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO A TAX AGREEMENT BETWEEN THE CITY OF EAST PROVIDENCE | |
AND EXXONMOBIL OIL CORPORATION | |
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1 | This act would provide for a tax treaty between the city of East Providence and |
2 | ExxonMobil Oil Corporation subject to the ratification of the East Providence city council. |
3 | This act would take effect upon passage. |
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