Exempts from taxation the non-commercial real and tangible personal property of Southside Community Land Trust, a Rhode Island domestic nonprofit corporation, located in Providence, Rhode Island.
Impact
If enacted, S3090 would amend existing taxation laws specifically to remove certain properties owned by nonprofits from the tax roll, which League legislators argued would enhance the ability of such organizations to reinvest savings into community projects and advocacy efforts. The bill's passage could set a precedence for similar exemptions for other nonprofit organizations, potentially affecting local revenue streams and tax policies significantly.
Summary
Bill S3090 aims to exempt from taxation the non-commercial real and tangible personal property of the Southside Community Land Trust, a domestic nonprofit corporation located in Providence, Rhode Island. This bill seeks to provide financial relief to the organization, thereby supporting its mission to promote community development and land stewardship.
Contention
The bill has faced some contention regarding its implications on local taxation and government financing. Opponents of the bill argue that granting tax exemptions to specific nonprofits could erode the tax base, leading to increased burdens on other taxpayers or cuts in essential public services. Proponents counter that the benefits provided by nonprofits to local communities often outweigh the financial losses incurred by local governments.
Exempts from taxation the real and tangible personal property of the Johnnycake Center Realty Corporation, a domestic nonprofit corporation, located in South Kingstown.
Exempts from taxation the real and tangible personal property of the Johnnycake Center Realty Corporation, a domestic nonprofit corporation, located in South Kingstown.
Exempts from taxation the non-commercial real and tangible personal property of Southside Community Land Trust, a Rhode Island domestic nonprofit corporation, located in Providence, Rhode Island.
Exempts from taxation the real and tangible personal property of Rhode Island Coalition Against Domestic Violence, a Rhode Island domestic nonprofit corporation, located in Warwick, Rhode Island.