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 | |
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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: | |
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 | 44-3-65. Narragansett - Tangible business property tax exemption. – The town of |
4 | Narragansett may by ordinance create a tangible business property tax exemption for local small |
5 | business owners in an amount not to exceed thirty-five thousand dollars ($35,000). |
6 | SECTION 2. This act shall take effect upon passage. |
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LC004489 | |
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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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1 | This act would permit the town of Narragansett to establish a tangible business property |
2 | tax exemption for local small business owners in an amount not to exceed thirty-five thousand |
3 | dollars ($35,000). |
4 | This act would take effect upon passage. |
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