Chapter 339

2006 -- S 3069

Enacted 07/07/06

A N A C T

RELATING TO THE TOWN OF LINCOLN -- TANGIBLE PROPERTY TAX EXEMPTIONS

Introduced By: Senators J Montalbano, and Connors

Date Introduced: May 03, 2006

It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 44-3 of the General Laws entitled "Property Subject to Taxation"

is hereby amended by adding thereto the following section:

44-3-62. Lincoln -- Tangible business property tax exemption for new investments. –

The town of Lincoln may by ordinance create a three (3) year tangible property tax exemption for

local small business owners who make new investments, excluding inventory.

     SECTION 2. This act shall take effect upon passage.

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LC03080

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