2016 -- S 2443

========

LC004705

========

     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2016

____________

A N   A C T

RELATING TO TAXATION - SITUS AND OWNERSHIP OF TAXABLE PROPERTY

     

     Introduced By: Senator John A. Pagliarini

     Date Introduced: February 11, 2016

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

1

     SECTION 1. Section 44-4-6 of the General Laws in Chapter 44-4 entitled "Situs and

2

Ownership of Taxable Property" is hereby amended to read as follows:

3

     44-4-6. Tenant for life or years. -- Estates in the possession of a tenant for life or for a

4

term of ten (10) twenty (20) or more years when by the terms of his or her lease the tenant for

5

years is required to pay the taxes on the estate, may shall be taxed to the tenant, who, for the

6

purposes of taxation is deemed the owner.

7

     SECTION 2. This act shall take effect upon passage.

========

LC004705

========

 

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION - SITUS AND OWNERSHIP OF TAXABLE PROPERTY

***

1

     This act would provide that taxes on estates in the possession of a tenant for life, or for a

2

term of twenty (20) or more years, would be taxed by a municipality to the tenant when the lease

3

requires the tenant to pay the taxes.

4

     This act would take effect upon passage.

========

LC004705

========

 

LC004705 - Page 2 of 2