2014 -- H 8153 SUBSTITUTE A

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2014

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A N   A C T

RELATING TO TAXATION -- TOWN OF NORTH SMITHFIELD

     Introduced By: Representative Brian C.Newberry

     Date Introduced: May 07, 2014

     Referred To: House Municipal Government

     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:

     44-3-9.2.1. North Smithfield -- Exemption or partial abatement of taxes for Rankin

Estates. -- The town council of the town of North Smithfield may vote, at a duly noticed public

meeting, to grant a partial abatement of taxes for a sum total yearly abatement in the amount of

fourteen thousand three hundred dollars ($14,300), for a period of seven (7) years from the date

of master plan approval for a grand total of one hundred thousand one hundred dollars ($100,100)

in abatements for the real property known as "Rankin Estates" which consists of property located

in the town of North Smithfield laid out and designated as assessor's plat 14, Lots 17, 19, 20, 29,

31-34, 36, 88, 93, 106, 107, 123, 125, 128, 135, 136, 139, 140, 141, 144, 145, 147, 159, 202, 242.

     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- TOWN OF NORTH SMITHFIELD

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     This act would allow the town of North Smithfield to grant a partial abatement of taxes

for a period of seven (7) years for a development known as "Rankin Estates".

     This act would take effect upon passage.

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