Chapter 050
2020 -- S 2371
Enacted 06/27/2020

A N   A C T
RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

Introduced By: Senator Jessica de la Cruz
Date Introduced: February 13, 2020

It is enacted by the General Assembly as follows:
     SECTION 1. Section 44-5-55.1 of the General Laws in Chapter 44-5 entitled "Levy and
Assessment of Local Taxes" is hereby repealed.
     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. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local
Taxes" is hereby amended by adding thereto the following section:
     44-5-55.2. Burrillville -- Tax levy and stabilization.
     The town of Burrillville is authorized to establish by ordinance a process to stabilize tax
assessments and provide tax credits for physical improvements made to certain properties located
in areas of town that have been designated substandard by the town's comprehensive plan or as
may be separately designated by the town council. Specifically, the ordinance shall provide that
physical improvements made to any commercial, industrial, mixed-use buildings, and apartment
houses with six (6) or more legal units located in areas that have been designated substandard
may be eligible for either a tax stabilization or a tax credit against their real estate tax levy as set
forth in the town's ordinance. The stabilization granted or tax credit based upon these
improvements 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 been completed. All improvements made to the
property will be assessed accordingly as of December 31 of each year pursuant to ยง 44-5-1. The
ordinance shall also include a process for an applicant to apply and qualify for the tax
stabilization or tax credits.
     SECTION 3. This act shall take effect upon passage.
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LC004106
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