04-LA 040

2004 -- S 2991

Enacted 06/25/04

A N A C T

AMENDING AN ACT EXEMPTING FROM TAXATION AND AUTHORIZING THE

HERRESHOFF MARINE MUSEUM TO INCREASE ITS HOLDINGS FROM AN AMOUNT

NOT EXCEEDING ONE MILLION SIX HUNDRED THOUSAND DOLLARS ($1,600,000)

TO AN AMOUNT NOT EXCEEDING FOUR MILLION SIX HUNDRED THOUSAND

DOLLARS ($4,600,000)

Introduced By: Senators Parella, Bates, and Felag

Date Introduced: March 24, 2004

It is enacted by the General Assembly as follows:

     SECTION 1. Herreshoff Marine Museum, a nonbusiness corporation, incorporated under

the general laws of this state on March 16, 1971, is hereby authorized to take, hold, transmit and

convey real, mixed, and personal estate to an amount not exceeding one four million six hundred

thousand dollars ($1,600,000) ($4,600,000) and said real and personal estate shall be exempt

from taxation so long as said estate shall be used for the purposes for which said corporation was

incorporated.

     SECTION 2. This act shall take effect upon passage.

=======

LC03002

=======