A N A C T
RELATING TO TAXATION -- SITUS AND OWNERSHIP OF TAXABLE PROPERTY
It is enacted by the General Assembly as follows:
SECTION 1. Section 44-4-24 of the General Laws in Chapter 44-4 entitled "Situs and Ownership of Taxable Property" is hereby amended to read as follows:
44-4-24. Rule as to situs of tangible personal property -- (a) All ratable tangible personal property is taxed to the owner of the property in each town or city in which the property has been situated for any portion of the twelve (12) months ending with the date of assessment. The tax on any tangible personal property is based on the ratio of the number of days the property is stored, garaged or permanently situated in any one town or city to the number of days in the twelve (12) months ending with the date of assessment.
(b) Any tax or portion of the tax under this section in arrears at the time of application or renewal is cause for the clerk of any city or town to refuse to grant or renew any license created under the ordinances of the city or town.
(a) All ratable tangible personal property shall be taxed to the owner thereof in the town or city in which the property shall have been situated for the larger portion of the twelve (12) months ending with the date of assessment. If any tangible personal property shall not have been situated in any one town or city for the larger portion of the twelve (12) months ending with the date of assessment, then the tangible personal property shall be taxed in the town or city where the property is stored, garaged, or permanently situated at the time of assessment.
(b) Any tax or portion thereof under this section in arrears at the time of application or renewal shall be cause for the clerk of any city or town to refuse to grant or renew any license created under the ordinances of the city or town.
SECTION 2. This act shall take effect upon passage.