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 thereto the following section thereto:

{ADD 44-3-43. Historic stone wall exemption. -- The city and town councils of the various cities and towns may provide by ordinance an exemption not exceeding five thousand dollars ($5,000) of valuation for any parcel of real property on which is located an historic stone wall(s), provided that such wall(s) is fifty (50) or more feet in length, at least three (3) feet high structurally maintained and free of noxious weeds and vegetation. For purposes of this section, an "historic stone wall" is a vertical structure of aligned natural stone built before 1900, normally constructed to designate a property boundary or to separate agricultural activities within a farmstead. ADD}

SECTION 2. This act shall take effect upon passage.