2014 -- S 2024

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LC003168

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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

     Introduced By: Senators Picard, and Cote

     Date Introduced: January 09, 2014

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local

Taxes" is hereby amended by adding thereto the following section:

     44-5-74.5. Woonsocket -- Exemption for elderly residents. – (a) For the city's fiscal

year 2014-2015 and thereafter, the budget commission for the city of Woonsocket, or any

individual or body authorized by law to take such action, is authorized to annually fix the amount,

if any, of a real estate tax exemption for Woonsocket residents based on age upon such terms and

conditions as it deems reasonable. Exemption rates may be tiered based upon income level.

     (b) Any such exemption shall only apply to residential property owned and occupied by

the applicant.

     SECTION 2. This act shall take effect upon passage.

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LC003168

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION

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     This act would authorize the city of Woonsocket to provide a homestead exemption for

elderly residents commencing fiscal year 2014-2015 and thereafter.

     This act would take effect upon passage.

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LC003168

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