2024 -- H 7323

========

LC003337

========

     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2024

____________

A N   A C T

RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

     

     Introduced By: Representatives Cortvriend, McGaw, and Speakman

     Date Introduced: January 26, 2024

     Referred To: House Municipal Government & Housing

     It is enacted by the General Assembly as follows:

1

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

2

hereby amended by adding thereto the following section:

3

     44-3-68. Portsmouth -- Tax exemptions, abatements or payments in lieu of tax

4

agreements.

5

     The town council of the town of Portsmouth may, by ordinance or resolution, provide for

6

exemption from valuation for taxation or otherwise enter into tax abatement or payment in lieu of

7

taxes agreements upon terms acceptable to the town council regarding the real property known as

8

"Quaker Manor" located at 2368 East Main Road, and designated as tax assessor's map 39, lots

9

47A and 47C, which is occupied by persons or families of low- or moderate- income.

10

     SECTION 2. This act shall take effect upon passage.

========

LC003337

========

 

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

***

1

     This act would allow the town council of Portsmouth, by ordinance or resolution, to exempt

2

Quaker Manor from valuation for taxation or to enter into tax abatement or payment in lieu of taxes

3

agreements.

4

     This act would take effect upon passage.

========

LC003337

========

 

LC003337 - Page 2 of 2