Chapter 411

2006 -- S 3147

Enacted 07/07/06

A N A C T

RELATING TO TAXATION

Introduced By: Senators P Fogarty, Gallo, and Walaska

Date Introduced: June 08, 2006

It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local

Taxes" is hereby amended by adding thereto the following section:

44-5-55.1. Burrillville - Tax assessment stabilization. -- The town of Burrillville is

authorized to establish by ordinance a process to stabilize tax assessments for improvements

made to certain properties located in areas of town that have been designated substandard in and

pursuant to the land use chapter of the town's comprehensive plan. Specifically, said ordinance

shall provide that any exterior improvements made to any commercial, industrial, and/or mixed

use buildings located in areas that have been identified as substandard areas as aforesaid shall not

be subject to any increase in the tax assessment levied against said property directly related to and

because of said improvement. Such prohibition against an increase in the tax assessment based

upon these improvement shall be in place for a period not to exceed ten (10) years from the date

on which the work on the improvements shall have begun. The ordinance shall also include a

process for an applicant to apply and qualify for said tax stabilization.

     SECTION 2. This act shall take effect upon passage.

=======

LC03386

=======