06-LA 041

2006 -- H 8057 SUBSTITUTE A

Enacted 07/07/06

A N A C T

EXEMPTING FROM LOCAL PROPERTY TAXATION AND AUTHORIZING THE HERRESHOFF MARINE MUSEUM TO INCREASE ITS HOLDING TO AN AMOUNT NOT EXCEEDING $5,000,000

Introduced By: Representatives Anguilla, and Gallison

Date Introduced: May 02, 2006

It is enacted by the General Assembly as follows:

     SECTION 1. Herreshoff Marine Museum, a nonbusiness corporation, incorporated under

the general laws of this state on March 16, 1971, is hereby authorized to take, hold, transmit and

convey real, mixed and personal estate to an amount not exceeding five million dollars

($5,000,000) and said real and personal estate shall be exempt from local property taxation so

long as said estate shall be used for the purposes for which said corporation was incorporated.

     SECTION 2. This act shall take effect upon passage.

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LC03101/SUB A

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