2013 -- S 0749

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LC02036

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2013

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A N A C T

RELATING TO TAXATION - PROPERTY SUBJECT TO TAXATION - COVENTRY -

ECONOMIC DEVELOPMENT TAX PROGRAM EXEMPTIONS

     Introduced By: Senators Kettle, and Raptakis

     Date Introduced: March 13, 2013

     Referred To: Senate Finance

It is enacted by the General Assembly as follows:

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     SECTION 1. Chapter 44-3 of the General Laws entitled "Property Subject to Taxation" is

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hereby amended by adding thereto the following section:

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     44-3-65. Coventry - Economic development tax program exemptions. – The town

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council of the town of Coventry may, by ordinance, provide exemptions from assessed valuation

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for real and tangible personal property of property owners or businesses which create jobs in the

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town of Coventry and any property owners or businesses for any retrofit, expansion, or

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renovation of specifically permitted uses; provided, that the exemption shall be for a period of not

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more than ten (10) years.

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     SECTION 2. This act shall take effect upon passage.

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LC02036

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO TAXATION - PROPERTY SUBJECT TO TAXATION - COVENTRY -

ECONOMIC DEVELOPMENT TAX PROGRAM EXEMPTIONS

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     This act would provide a tax exemption for creation of jobs or expansion of business in

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the town of Coventry.

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     This act would take effect upon passage.

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LC02036

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