Introduced By: | Representatives George and Watson |
Date Introduced : | January 5, 2000 |
It is enacted by the General Assembly as follows:
SECTION 1. Section 44-5-8 of the General Laws in Chapter 44-5 entitled "Levy and Assessment of Local Taxes" is hereby amended to read as follows:
44-5-8. Form of option for quarterly payments --
The option shall be expressed in substantially the following
form: "The tax may be paid in ____ installments, the first
installment of ____ percent on or before the ____ day of ____
A.D. 19____ : (proportions and dates to be specified.)"
"Each installment of taxes if paid on or before the last
day of each installment period successively and in order is free
from any charge for interest." "If the first installment
or any succeeding installment of taxes is not paid by the last
date of the respective installment period or periods as they occur
then the whole tax or remaining unpaid balance of the tax as
the case may be immediately becomes due and payable and carries
until collected a penalty at the rate of ____ percent (not less
than six (6) nor more than eighteen (18) or, in the case of the
city of Cranston, not more than twelve (12) per annum); provided,
that taxes payable to the city of Newport, the town of Middletown,
the town of Hopkinton, the town of West Greenwich, the town of
North Kingstown, the town of New Shoreham and
, the town of Tiverton and the town of East Greenwich
shall bear interest on any unpaid quarterly payments, and
that only the unpaid quarterly payments are due and payable to
the city of Newport, the town of Middletown, the town of Hopkinton,
the town of West Greenwich, the town of North Kingstown, the town
of New Shoreham and , the town of Tiverton
and the town of East Greenwich notwithstanding the provisions
of this section to the contrary."
SECTION 2. This act shall take effect upon passage.