2015 -- H 5541

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LC001117

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2015

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A N   A C T

RELATING TO TAXATION -- EXCISE ON MOTOR VEHICLES AND TRAILERS

     Introduced By: Representatives Fellela, Serpa, Malik, MacBeth, and Costa

     Date Introduced: February 25, 2015

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. Section 44-34-5 of the General Laws in Chapter 44-34 entitled "Excise on

Motor Vehicles and Trailers" is hereby amended to read as follows:

     44-34-5. Veterans' and other property tax exemptions. -- (a) Those veterans, gold star

parents, and blind persons who qualify for property tax exemption under §§ 30-22-1 -- 30-22-4

and §§ 44-3-4, 44-3-5, and 44-3-12 shall have the exemption applied to their real estate and

tangible personal property, other than registered and/or leased vehicles or trailers, in the

communities where they reside as prescribed in those sections. However, if there is not sufficient

property to exhaust the exemption, the balance of the exemption shall be applied to the excise tax

on his or her registered and/or leased motor vehicle or trailer.

      (b) The amount of exemption shall not exceed the amount of excise levied on those

vehicles owned and/or leased by the person.

     SECTION 2. This act shall take effect upon passage.

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LC001117

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- EXCISE ON MOTOR VEHICLES AND TRAILERS

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     This act would include leased motor vehicles and trailers as exempt from the excise tax

when real estate and tangible personal property are insufficient to exhaust the exemption amount

provided by law.

     This act would take effect upon passage.

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LC001117

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