2020 -- S 2371

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LC004106

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2020

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A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

     Introduced By: Senator Jessica de la Cruz

     Date Introduced: February 13, 2020

     Referred To: Senate Housing & Municipal Government

     It is enacted by the General Assembly as follows:

     SECTION 1. Section 44-5-55.1 of the General Laws in Chapter 44-5 entitled "Levy and

Assessment of Local Taxes" is hereby repealed.

     44-5-55.1. Burrillville -- Tax assessment stabilization.

     The town of Burrillville is authorized to establish by ordinance a process to stabilize tax

assessments for improvements made to certain properties located in areas of town that have been

designated substandard in and pursuant to the land use chapter of the town's comprehensive plan.

Specifically, said ordinance shall provide that any exterior improvements made to any

commercial, industrial, and/or mixed use buildings located in areas that have been identified as

substandard areas as aforesaid shall not be subject to any increase in the tax assessment levied

against said property directly related to and because of said improvement. Such prohibition

against an increase in the tax assessment based upon these improvement shall be in place for a

period not to exceed ten (10) years from the date on which the work on the improvements shall

have begun. The ordinance shall also include a process for an applicant to apply and qualify for

said tax stabilization.

     SECTION 2. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local

Taxes" is hereby amended by adding thereto the following section:

     44-5-55.2. Burrillville -- Tax levy and stabilization.

     The town of Burrillville is authorized to establish by ordinance a process to stabilize tax

assessments and provide tax credits for physical improvements made to certain properties located

in areas of town that have been designated substandard by the town's comprehensive plan or as

may be separately designated by the town council. Specifically, the ordinance shall provide that

physical improvements made to any commercial, industrial, mixed-use buildings, and apartment

houses with six (6) or more legal units located in areas that have been designated substandard

may be eligible for either a tax stabilization or a tax credit against their real estate tax levy as set

forth in the town's ordinance. The stabilization granted or tax credit based upon these

improvements shall be in place for a period not to exceed ten (10) years from the date on which

the work on the improvements shall have been completed. All improvements made to the

property will be assessed accordingly as of December 31 of each year pursuant to § 44-5-1. The

ordinance shall also include a process for an applicant to apply and qualify for the tax

stabilization or tax credits.

     SECTION 3. 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 -- LEVY AND ASSESSMENT OF LOCAL TAXES

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     This act would replace the current tax stabilization assessment plan for the town of

Burrillville with an updated plan.

     This act would take effect upon passage.

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