S2598

	2024 -- S 2598
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	LC005331
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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 -- PROPERTY SUBJECT TO TAXATION

	Introduced By: Senator Linda L. Ujifusa
	Date Introduced: March 01, 2024
	Referred To: Senate Finance
	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.
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	LC005331
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	EXPLANATION
	BY THE LEGISLATIVE COUNCIL
	OF
	A N A C T
	RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION
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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.
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	LC005331
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	LC005331 - Page 2 of 2