2019 -- S 0928

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LC002721

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2019

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A N   A C T

RELATING TO TAXATION -- HISTORIC RESIDENCE--TAX CREDIT

     

     Introduced By: Senators Valverde, and Sheehan

     Date Introduced: May 30, 2019

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

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     SECTION 1. Section 44-4.1-2 of the General Laws in Chapter 44-4.1 entitled "Historic

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Residence - Tax Credit" is hereby amended to read as follows:

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     44-4.1-2. Definitions.

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     As used in this chapter:

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     (1) "Certified maintenance or rehabilitation" means any maintenance or rehabilitation of a

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historic residence consistent with the character of that property or district as determined in

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accordance with commission guidelines.

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     (2) "Commission" means the Rhode Island historical preservation and heritage

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commission created pursuant to § 42-45-2, or for purposes of the historic commercial structure

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property tax reduction in Warren, the local historic district commission in Warren; or for

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purposes of historic structure property tax reduction in Narragansett, the local historic district

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commission in Narragansett.

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     (3) "Historic residence" means a historic residential property which is not of a character

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subject to federal depreciation allowance pursuant to 26 U.S.C. § 167 or 168 and which is:

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     (i) Listed individually in the state register of historic places; or

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     (ii) Located in a district listed in the state register of historic places and certified by the

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commission as contributing to the historic character of that district; or

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     (iii) Located in a local historic district zone as designated by a city or town under chapter

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24.1 of title 45 and certified by the commission as contributing to the character of that historic

 

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district zone; or

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     (iv) Designated by a city or town as an individual structure subject to regulation by a

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local historic district commission under chapter 24.1 of title 45.

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     (4) "Historic Commercial Structure" means: a historic structure in Warren utilized for

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commercial purposes, whole or in part, and which is:

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     (i) Listed individually in the state register of historic places; or

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     (ii) Located in a district listed in the state register of historic places and certified by the

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commission as contributing to the historic character of that district; or

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     (iii) Located in a local historic district zone as designated by the town under chapter 24.1

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of title 45 and certified by the commission as contributing to the character of that historic district

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zone; or

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     (iv) Designated by the town as an individual structure subject to regulation by a local

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historic district commission under chapter 24.1 of title 45.

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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 -- HISTORIC RESIDENCE--TAX CREDIT

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     This act would amend the definition of commission under the Rhode Island historical

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preservation and heritage commission to include for purposes of historic structure property tax

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reduction in the town of Narragansett.

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     This act would take effect upon passage.

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