2023 -- H 5603
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LC000123
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S TATE OF RHODE IS LAND
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2023
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A N A C T
RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION
Introduced By: Representatives Morales, J. Lombardi, Hull, Sanchez, Chippendale,
Newberry, Slater, Diaz, Kislak, and Biah
Date Introduced: February 15, 2023
Referred To: House Municipal Government & Housing
It is enacted by the General Assembly as follows:
SECTION 1. Chapter 44-3 of the General Laws entitled "Property Subject to Taxation" is 1
hereby amended by adding thereto the following section: 2
44-3-67. Imposition of tax on higher education private institution endowments by 3
municipalities. 4
(a) Each city and town, by resolution or ordinance adopted by the city or town council, 5
may wholly or partially impose a tax, of not more than two percent (2%), on the endowment of a 6
private institution of higher education located in that city or town. 7
(b) All tax revenues generated pursuant to this section shall be deposited in a restricted 8
receipt account by the city or town to be used only for the public school district of that municipality. 9
SECTION 2. This act shall take effect upon passage. 10
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LC000123
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LC000123 - Page 2 of 2
EXPLANATION
BY THE LEGISLATIVE COUNCIL
OF
A N A C T
RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION
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This act would allow the host city or town to impose a two percent (2%) tax on the 1
endowment of a private institution of higher education, to be used only for the host's public school 2
district. 3
This act would take effect upon passage. 4
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LC000123
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