Introduced By: Senators Felag and Parella
Date Introduced : March 23, 1999
It is enacted by the General Assembly as follows:
SECTION 1. All the real, mixed, and personal property of The Mount Hope Trust in Bristol incorporated on August 4, 1998 as a nonprofit corporation, shall be exempt from state and local taxation, to a value not to exceed five million dollars ($5,000,000) in assessed valuation, so long as said property shall be used for the purposes for which said corporation was incorporated.
SECTION 2. This act shall take effect upon passage.