Creates new tax on gains from sale or exchange of real property held for short periods of time, 6 years or less, establishes a comprehensive framework to calculate and implement enforcement and provides imprisonment and/or fines for those who evade taxes.
Allows the applicant for a land development project to utilize the administrative subdivision process established under 45-23-37 to request approval of a proposed subdivision of an oversized lot.
Allows the city of Providence to adopt higher rates for the marginal value of residential property in excess of $1,000,000 per dwelling. Taxpayers below a certain income level may be exempt and additional revenue would be exempt.
Creates the Old Growth Forest Protection Act to provide protection for state-owned forestland in their natural state prohibiting extractive logging and clearcutting in any forest on state-owned land.
Bills nonprofit colleges and universities in the city of Providence for municipal services if they do not reach a memorandum of agreement with the city for increased payments.