2024 -- S 2590

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LC003395

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2024

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A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

     

     Introduced By: Senators Raptakis, Tikoian, Burke, F. Lombardi, Felag, Bissaillon, Mack,
Gu, Acosta, and McKenney

     Date Introduced: March 01, 2024

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

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     SECTION 1. Section 44-5-9 of the General Laws in Chapter 44-5 entitled "Levy and

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Assessment of Local Taxes" is hereby amended to read as follows:

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     44-5-9. Deductions and penalties to insure prompt payment.

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     Any city or town may provide for a deduction from the tax assessed against any person, if

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paid by an appointed time, or for the penalties by way of percentage on a tax, if not paid at the time

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appointed, not exceeding eighteen percent (18%) twelve percent (12%) per annum, as it deems

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necessary to insure punctual payment; provided, that the city of Cranston may charge a penalty not

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exceeding twelve percent (12%) per annum.

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     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

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     This act would establish a statewide limit of twelve percent (12%) per year on interest

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charged by cities and towns on delinquent taxes.

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     This act would take effect upon passage.

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