2022 -- H 7351

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LC004444

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2022

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A N   A C T

RELATING TO TAXATION – PROPERTY SUBJECT TO TAXATION

     

     Introduced By: Representatives Speakman, and Donovan

     Date Introduced: February 04, 2022

     Referred To: House Municipal Government & Housing

     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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     44-3-55.1. Bristol - Certain nonprofit charitable organizations - Tax exemptions or

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payment in lieu of tax agreements.

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     The town council of the town of Bristol may, by ordinance or resolution, provide for

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exemptions from valuation for taxation or otherwise enter into payment in lieu of tax agreements

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regarding any real or personal property, which is directly related to the actual conduct of the

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charitable purposes of a nonprofit organization and which otherwise is, or would become, subject

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to taxation by the town, that is owned, leased, or held in the town of Bristol by any nonprofit,

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charitable organization recognized as such by the State of Rhode Island. Notwithstanding any other

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provisions of the general laws to the contrary, the town of Bristol shall be authorized to enter into

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payment in lieu of tax agreements with qualifying organizations upon terms acceptable to the town

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council. The town shall maintain a comprehensive list of all such exemptions and payment in lieu

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of tax agreements adopted pursuant to this section, which list shall set forth the amount of the

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exemption, the amount of the in lieu of tax payment, and the date of the resolution or ordinance

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establishing the exemption and/or payment in lieu of tax agreement and of any amendments to the

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ordinance or 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

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     This act would provide that the town of Bristol would be authorized to exempt from

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taxation, or otherwise enter into payment in lieu of tax agreements regarding property in the town

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of Bristol of qualifying nonprofit, charitable organizations.

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     This act would take effect upon passage.

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