Chapter 222

2016 -- S 2640 SUBSTITUTE A Enacted 07/01/2016

A N   A C T

RELATING TO TAXATION - PROPERTY SUBJECT TO TAXATION - BURRILLVILLE

Introduced By: Senator P Fogarty

Date Introduced: February 25, 2016

It is enacted by the General Assembly as follows:

SECTION 1. Section 44-3-9.3 of the General Laws in Chapter 44-3 entitled "Property

Subject to Taxation" is hereby amended to read as follows:

44-3-9.3. Burrillville -- Exemption or stabilizing of taxes on qualifying property used

for manufacturing or commercial purposes. -- (a) Except as provided in this section, the town

council of the town of Burrillville may vote to authorize, for a period not to exceed ten (10) years,

and subject to the conditions as provided in this section, to exempt from payment, in whole or in

part, real and personal property used for manufacturing, or commercial or mixed-use purposes, or

to determine a stabilized amount of taxes to be paid on account of such property, notwithstanding

the valuation of the property or the rate of tax; provided, that after public hearings, at least ten

(10) days' notice of which shall be given in a newspaper having a general circulation in the town,

the town council determines that:

(1) Granting of the exemption or stabilization of taxes will inure to the benefit of the

town by reason of:

(i) The willingness of the manufacturing or commercial firm or concern to locate in the

town; or

(ii) The willingness of a manufacturing or commercial firm or concern to expand

facilities with an increase in employment; or

(2) Granting of the exemption or stabilization of taxes will inure to the benefit of the

town by reason of the willingness of a manufacturing, or commercial or mixed-use firm or

concern to replace, reconstruct, expand, or remodel existing buildings, facilities, fixtures,

machinery, or equipment with modern buildings, facilities, fixtures, machinery, or equipment

resulting in an increase in plant, or commercial or mixed-use building investment by the firm or

concern in the town.

(b) For purposes of this section, "real property used for commercial or mixed-use

purposes" includes any building or structure used for offices or commercial enterprises,

including, without limitation, any building or structure used for wholesale, warehouse,

distribution, and/or storage businesses, used for service industries, or used for any other

commercial business, including mixed-use, and the land on which any such building or structure

is situated and not used solely for residential purposes.

(c) For purposes of this section, "personal property used for commercial or mixed-use

purposes" means any personal property owned by a firm or concern occupying a building,

structure, and/or land used for commercial or mixed-use purposes and used by such firm or

concern in its commercial or mixed-use enterprise including, without limitation, furniture,

fixtures, equipment, machinery, stock in trade, and inventory.

(d) Except as provided in this section, real and personal property, the payment of taxes

on which has been so exempted or which that is subject to the payment of a stabilized amount of

taxes, shall not, during the period for which the exemption or stabilization of the amount of taxes

is granted, be further liable to taxation by the town in which the property is located so long as the

property is used for the manufacturing, or commercial or mixed-use purposes for which the

exemption or stabilized amount of taxes was made.

(e) Notwithstanding any vote and findings by the town council, the property shall be

assessed for and shall pay that portion of the tax, if any assessed by the town of Burrillville, for

the purpose of paying the indebtedness of the town and the indebtedness of the state or any

political subdivision of the state to the extent assessed upon or apportioned to the town, and the

interest on the indebtedness, and for appropriation to any sinking fund of the town, which portion

of the tax shall be paid in full, and the taxes so assessed and collected shall be kept in a separate

account and used only for that purpose.

SECTION 2. This act shall take effect upon passage.

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LC004904/SUB A

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