2014 -- S 2999 SUBSTITUTE A | |
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LC005641/SUB 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 | |
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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: | |
1 | SECTION 1. Chapter 44-3 of the General Laws entitled "Property Subject to Taxation" is |
2 | hereby amended by adding thereto the following section: |
3 | 44-3-9.2.1. North Smithfield -- Exemption or partial abatement of taxes for Rankin |
4 | Estates. -- The town council of the town of North Smithfield may vote, at a duly noticed public |
5 | meeting, to grant a partial abatement of taxes for a sum total yearly abatement in the amount of |
6 | fourteen thousand three hundred dollars ($14,300), for a period of seven (7) years from the date |
7 | of master plan approval for a grand total of one hundred thousand one hundred dollars ($100,100) |
8 | in abatements for the real property known as "Rankin Estates" which consists of property located |
9 | in the town of North Smithfield laid out and designated as assessor's plat 14, Lots 17, 19, 20, 29, |
10 | 31-34, 36, 88, 93, 106, 107, 123, 125, 128, 135, 136, 139, 140, 141, 144, 145, 147, 159, 202, 242. |
11 | SECTION 2. This act shall take effect upon passage. |
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LC005641/SUB A | |
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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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1 | This act would allow the town of North Smithfield to grant a partial abatement of taxes |
2 | for a period of seven (7) years for a development known as "Rankin Estates". |
3 | This act would take effect upon passage. |
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