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2013 -- S 0819 | |
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LC01800 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2013 | |
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A N A C T | |
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RELATING TO THE I-195 REDEVELOPMENT ACT OF 2011 -- PAYMENTS | |
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Introduced By: Senators Goldin, Goodwin, Miller, Jabour, and Pichardo | |
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Date Introduced: April 04, 2013 | |
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Referred To: Senate Finance | |
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It is enacted by the General Assembly as follows: | |
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SECTION 1. Section 42-64.14-14 of the General Laws in Chapter 42-64.14 entitled "The |
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I-195 Redevelopment Act of 2011" is hereby amended to read as follows: |
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42-64.14-14. Payments. -- The commission shall make as a condition to the sale or lease |
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of any parcel of I-195 surplus land, as defined in section 37-5-8, or any portion thereof, to any |
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not-for-profit, organization or entity that is otherwise exempt from municipal real estate taxes |
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including, without limitation, any independent public instrumentality, governmental or quasi |
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governmental agency, body, division, or official, or any affiliate or subsidiary thereof, that the |
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purchaser or lessee, as applicable, shall make payments to the city relating to any parcel of I-195 |
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surplus land to be purchased or leased by such not-for-profit, or tax exempt organization or |
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institution. If no such agreement has been reached with the city of Providence, the commission is |
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authorized to complete the sale; however, in consideration for the purchase or lease of any parcel |
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of the I-195 surplus land, the not-for-profit or tax-exempt organization or institution shall make |
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payments to the city of Providence equivalent to those that would be paid by a taxable institution |
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with regard to the subject parcel including, but not limited to, any improvements constructed |
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thereon by the purchaser or lessee; provided, however, that the obligation to make such payments |
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shall cease in the event all or any portion of or any improvement on the subject parcel(s) is |
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subject to any tax by the city of Providence, whether in the nature of a real estate tax, ad valorem |
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tax, user fee, or otherwise (regardless of the basis on which such tax or fee is calculated) or any |
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other obligation that has the effect of such tax. For the duration of any time period wherein the |
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commission, the state or any quasi state entity owns any parcel of I-195 surplus land, as defined |
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in section 37-5-8, or any portion thereof, the commission, the state or the relevant quasi state |
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entity shall make payments to the city of Providence equivalent to those that would be paid by a |
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taxable institution with regard to the subject parcel including, but not limited to, any |
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improvements constructed thereon. |
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SECTION 2. This act shall take effect upon passage and apply retroactively on July 1, |
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2012. |
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LC01800 | |
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EXPLANATION | |
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BY THE LEGISLATIVE COUNCIL | |
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OF | |
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A N A C T | |
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RELATING TO THE I-195 REDEVELOPMENT ACT OF 2011 -- PAYMENTS | |
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This act would require the I-195 redevelopment district commission, the state or a |
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relevant quasi state entity to make payments to the city of Providence equivalent to those that |
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would be paid by a taxable institution with regard to the subject parcel including, but not limited |
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to, any improvements constructed thereon. |
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The act would take effect upon passage and apply retroactively to July 1, 2012. |
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LC01800 | |
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