Chapter 009
2023 -- H 5287
Enacted 04/07/2023

A N   A C T
RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

Introduced By: Representatives Phillips, Casey, and J. Brien

Date Introduced: February 01, 2023

It is enacted by the General Assembly as follows:
     SECTION 1. Section 44-3-9.1 of the General Laws in Chapter 44-3 entitled "Property
Subject to Taxation" is hereby amended to read as follows:
     44-3-9.1. Woonsocket — Exemption or stabilizing of taxes on qualifying property
located in designated districts in the city.
     (a) Except as provided in this section, the city council of the city of Woonsocket may vote
to authorize, for a period not exceeding ten (10) twenty (20) years, and subject to the conditions
provided in this section, to exempt from payment, in whole or in part, real and personal qualifying
property, or to determine a stabilized amount, of taxes to be paid on account of the qualifying
property located within a district designated by the city council, notwithstanding the valuation of
the property or the rate of tax; provided, that after a public hearing, at least ten (10) days’ notice of
which shall be given in a newspaper having a general circulation in the city, the city council
determines that designation of the district and granting of the exemption or stabilization for
qualifying property located in the city will inure to the benefit of the city by reason of the
willingness of owners of qualifying property to replace, reconstruct, expand, or remodel existing
buildings, facilities, machinery, or equipment with modern buildings, facilities, fixtures,
machinery, or equipment, or to construct new buildings or facilities or acquire new machinery or
equipment for use in such buildings or facilities, resulting in an increase in investment by such
owners in the city.
     (b) For purposes of this section, “qualifying property” means any building or structures
used or intended to be used essentially for offices or commercial enterprises or for residential
purposes.
     (c) Except as provided in this section, property, the payment of taxes on which has been so
exempted or which is subject to the payment of a stabilized amount of taxes, shall not, during the
period for which the exemption or stabilization of the amount of taxes is granted, be further liable
to taxation by the city so long as that property is used or intended to be used for the manufacturing,
commercial, or residential purposes for which the exemption or stabilized amount of taxes was
made.
     (d) Notwithstanding any vote and findings by the city council, the property shall be
assessed for and shall pay that portion of the tax, if any, assessed by the city, for the purpose of
paying the indebtedness of the city and the indebtedness of the state or any political subdivision of
the state to the extent assessed upon or apportioned to the city, and the interest on the indebtedness,
and for appropriation to any sinking fund of the city, which portion of the tax shall be paid in full,
and the taxes so assessed and collected shall be kept in a separate account and used only for that
purpose.
     SECTION 2. This act shall take effect upon passage.
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LC001090
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