Rhode Island Senate Bill S2588

Rhode Island 2024 Regular Session

• Introduced: 3/1/24
• Refer: 3/1/24
• Report Pass: 3/12/24
• Engrossed: 3/19/24
• Refer: 3/20/24
• Report Pass: 5/15/24
• Enrolled: 5/21/24
• Passed: 5/30/24

Caption

Exempts from taxation the real and tangible personal property of the Little Compton Game Club.

Impact

The intended effect of this bill is to enhance the operational viability of the Little Compton Game Club by reducing its financial burden related to property taxes. Tax exemptions such as this are often sought by nonprofits to facilitate community-oriented purposes and promote local engagement in recreational activities. If passed, this bill could set a precedent for similar taxation relief requests from other nonprofit organizations within the state, potentially opening a dialogue about the taxation status of various philanthropic entities.

Summary

Senate Bill 2588 proposes to exempt the real and tangible personal property of the Little Compton Game Club from taxation. This bill is an amendment to Section 44-3-3 of the General Laws in Rhode Island, which details what property is subject to taxation. By officially recognizing the Little Compton Game Club as a tax-exempt entity, the legislation aims to provide relief from property taxes that the club would otherwise incur on its assets.

Contention

However, this bill may also spark debates surrounding the fairness of tax exemptions granted to specific organizations. Critics might argue that such exemptions could lead to unequal tax burdens on local residents and other businesses that do not have similar advantages. Additionally, the financial implications for local governments reliant on property tax revenues could be raised, considering the need for fiscal responsibility amidst increasing demands on public services.

Notable_points

The bill is introduced by Senator Louis P. DiPalma and signals an ongoing effort to address the balance between supporting community organizations like the Little Compton Game Club while ensuring fair tax practices for all constituents. Its passage, marked by an overwhelming vote of 69 yeas and 0 nays, underscores bipartisan support for fostering local recreational spaces through financial assistance.