2014 -- S 2999 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: Senators E O`Neill, and Jabour

     Date Introduced: May 08, 2014

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

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

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

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

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

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

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

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

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     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

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

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     This act would take effect upon passage.

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