A N A C T
EXEMPTING FROM TAXATION THE REAL, MIXED AND PERSONAL PROPERTY OF THE BURRILLVILLE GLOCESTER YOUTH SOCCER ASSOCIATION, INC.
It is enacted by the General Assembly as follows:
SECTION 1. The property, real and personal, situated in the Town of Glocester, held for or by The Burrillville Glocester Youth Soccer Association, Inc., incorporated as a non-business corporation, to an amount not exceeding five hundred thousand dollars ($500,000.00) shall, at all times, be exempt from all taxes so long as said property shall be used for the purposes for which said corporation was incorporated and so long as the The Burrillville Glocester Youth Soccer Association, Inc., shall maintain nonprofit tax exempt status with the Internal Revenue Service. In the event of disbanding of the club, the building(s) and the land shall revert to the Champlin Foundation, or another like organization.
SECTION 2. This act shall take effect upon passage.