2022 -- S 2462 | |
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LC005257 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2022 | |
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J O I N T R E S O L U T I O N | |
MAKING AN APPROPRIATION IN THE FISCAL YEAR 2022-2023 BUDGET TO FUND | |
PAYMENTS IN LIEU OF TAXES (PILOT) AT THE FULL TWENTY-SEVEN PERCENT | |
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Introduced By: Senators Zurier, Miller, Kallman, Bell, and Quezada | |
Date Introduced: March 01, 2022 | |
Referred To: Senate Finance | |
1 | WHEREAS, Section 45-13-5.1 of the Rhode Island General Laws directs the General |
2 | Assembly to appropriate funds to cities and towns as payments in lieu of taxes (PILOT) for |
3 | revenue lost due to real property tax exemptions; and |
4 | WHEREAS, Section 45-13-5.1(a) of that law prescribes a benchmark of twenty-seven |
5 | percent (27%) of lost property tax revenue for the State appropriation to cities and towns to the |
6 | extent that funding is available, with reductions pro rata to cities and towns in the event that the |
7 | General Assembly does not appropriate the full amount defined by the benchmark; and |
8 | WHEREAS, The General Assembly appropriated the full twenty-seven percent for |
9 | several years but has not done so recently; and |
10 | WHEREAS, A full appropriation would be beneficial to the cities and towns that incur |
11 | burdens providing services to these tax exempt entities; and |
12 | WHEREAS, Many of the affected cities and towns face ongoing fiscal difficulties; now, |
13 | therefore be it |
14 | RESOLVED, That there is hereby appropriated, out of any money in the treasury not |
15 | otherwise appropriated for the fiscal year 2022-2023, a sum sufficient to fund payments in lieu of |
16 | taxes (PILOT) at twenty-seven percent (27%); and the state controller is hereby authorized and |
17 | directed to draw his orders upon the general treasurer for the payment of said sum, or so much |
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1 | thereof as may be from time to time required, upon receipt of properly authenticated vouchers. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
J O I N T R E S O L U T I O N | |
MAKING AN APPROPRIATION IN THE FISCAL YEAR 2022-2023 BUDGET TO FUND | |
PAYMENTS IN LIEU OF TAXES (PILOT) AT THE FULL TWENTY-SEVEN PERCENT | |
LEVEL | |
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1 | This joint resolution would authorize the appropriation a sum sufficient to fund payments |
2 | in lieu of taxes at the full twenty-seven percent. |
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