| 1 | 1 | | |
|---|
| 2 | 2 | | |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | 2023 -- H 6291 |
|---|
| 6 | 6 | | ======== |
|---|
| 7 | 7 | | LC002814 |
|---|
| 8 | 8 | | ======== |
|---|
| 9 | 9 | | S T A T E O F R H O D E I S L A N D |
|---|
| 10 | 10 | | IN GENERAL ASSEMBLY |
|---|
| 11 | 11 | | JANUARY SESSION, A.D. 2023 |
|---|
| 12 | 12 | | ____________ |
|---|
| 13 | 13 | | |
|---|
| 14 | 14 | | A N A C T |
|---|
| 15 | 15 | | RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION |
|---|
| 16 | 16 | | Introduced By: Representatives Place, and Newberry |
|---|
| 17 | 17 | | Date Introduced: April 19, 2023 |
|---|
| 18 | 18 | | Referred To: House Municipal Government & Housing |
|---|
| 19 | 19 | | |
|---|
| 20 | 20 | | |
|---|
| 21 | 21 | | It is enacted by the General Assembly as follows: |
|---|
| 22 | 22 | | SECTION 1. Section 44-3-56 of the General Laws in Chapter 44-3 entitled "Property 1 |
|---|
| 23 | 23 | | Subject to Taxation" is hereby amended to read as follows: 2 |
|---|
| 24 | 24 | | 44-3-56. Tax credit in lieu of tax exemption in the town of Burrillville. 3 |
|---|
| 25 | 25 | | (a) The town council of the town of Burrillville may, by ordinance, grant a dollar tax credit 4 |
|---|
| 26 | 26 | | of a specific dollar amount in lieu of the tax exemptions allowed pursuant to the provisions of §§ 5 |
|---|
| 27 | 27 | | 44-3-4, 44-3-5, 44-3-12, 44-3-15 and 44-3-35 and chapter 22 of the public laws of 1973. The basis 6 |
|---|
| 28 | 28 | | for determining eligibility for the dollar tax credit shall be as set forth in §§ 44-3-4, 44-3-5, 44- 3-7 |
|---|
| 29 | 29 | | 12, 44-3-15 and 44-3-35 and chapter 22 of the public laws of 1973. The dollar tax credit shall be a 8 |
|---|
| 30 | 30 | | direct deduction from the tax bill. 9 |
|---|
| 31 | 31 | | (b) In lieu of the dollar tax credit allowed in subsection (a), the town council of the town 10 |
|---|
| 32 | 32 | | of Burrillville may, by ordinance, establish a dollar tax credit for persons who meet the criteria set 11 |
|---|
| 33 | 33 | | forth in §§ 44-3-15 and 44-3-35 and chapter 22 of the public laws of 1973 based on household 12 |
|---|
| 34 | 34 | | gross income. The dollar tax credit may vary based on the household gross income. 13 |
|---|
| 35 | 35 | | (c) The total amount of all flat rate tax credits shall not exceed three percent (3%) four 14 |
|---|
| 36 | 36 | | percent (4%) of the prior year’s tax levy. 15 |
|---|
| 37 | 37 | | SECTION 2. This act shall take effect upon passage. 16 |
|---|
| 38 | 38 | | ======== |
|---|
| 39 | 39 | | LC002814 |
|---|
| 40 | 40 | | ======== |
|---|
| 41 | 41 | | |
|---|
| 42 | 42 | | |
|---|
| 43 | 43 | | LC002814 - Page 2 of 2 |
|---|
| 44 | 44 | | EXPLANATION |
|---|
| 45 | 45 | | BY THE LEGISLATIVE COUNCIL |
|---|
| 46 | 46 | | OF |
|---|
| 47 | 47 | | A N A C T |
|---|
| 48 | 48 | | RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION |
|---|
| 49 | 49 | | *** |
|---|
| 50 | 50 | | This act would increase the total amount of all flat tax credits from three percent (3%) to 1 |
|---|
| 51 | 51 | | four percent (4%) of the prior year's tax levy. 2 |
|---|
| 52 | 52 | | This act would take effect upon passage. 3 |
|---|
| 53 | 53 | | ======== |
|---|
| 54 | 54 | | LC002814 |
|---|
| 55 | 55 | | ======== |
|---|