It is enacted by the General Assembly as follows:

SECTION 1. Chapter 44-3 of the general laws entitled "Property Subject to Taxation" is hereby amended by adding the following section:

{ADD 44-3-41. Historic district exemption. -- ADD} {ADD The town council of the town of Glocester may, by ordinance provide for a schedule of exemptions from increased assessment valuations for exterior renovations or improvements made to pre-20th century buildings within the historic district, and to post 19th century buildings made subject by their owners to historic district guidelines. The exemptions may be further extended to buildings outside the historic district which are on the national historic register. The ordinance shall specify the kinds of improvements and renovations for which exemptions will be permitted. ADD}

SECTION 2. This act shall take effect upon passage.