2016 -- S 2350

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LC004489

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2016

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A N   A C T

RELATING TO TAXATION - PROPERTY SUBJECT TO TAXATION

     

     Introduced By: Senator James C. Sheehan

     Date Introduced: February 10, 2016

     Referred To: Senate Finance

     (By request)

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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     44-3-65. Narragansett - Tangible business property tax exemption. – The town of

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Narragansett may by ordinance create a tangible business property tax exemption for local small

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business owners in an amount not to exceed thirty-five thousand dollars ($35,000).

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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 - PROPERTY SUBJECT TO TAXATION

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     This act would permit the town of Narragansett to establish a tangible business property

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tax exemption for local small business owners in an amount not to exceed thirty-five thousand

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dollars ($35,000).

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     This act would take effect upon passage.

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LC004489

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