It is enacted by the General Assembly as follows:

SECTION 1. {ADD All the real, mixed and personal property of the South County Center for the Arts, a Rhode Island nonbusiness corporation located in the Town of South Kingstown, up to two million dollars ($2,000,000) in valuation shall be exempt from state and local taxation so long as said property shall be used for the purposes for which said corporation was incorporated. ADD}

SECTION 2. This act shall take effect upon passage.