Rhode Island General Laws 39-20-7. Taxation
(a) The interests of domestic electric utilities and foreign electric utilities in all electric-generating facilities located in this state shall be liable to taxation by the cities and towns under the provisions of chapters 3 — 5 of title 44. To the extent that the interests may be exempt from taxation because: (1) The interests are owned by a quasi-municipal corporation that is exempt by the provisions of its charter from taxation by the city or town assessing the tax; or (2) The interests are owned by an individual, partnership, corporation, association, or entity that is exempt from taxation by any general or special law, the owners shall make payments to the city or town in lieu of those taxes in the same amounts as the taxes that would have been assessed were they not exempt. The payments in lieu of taxes to be made under this section shall be treated in the same manner as taxes for purposes of all procedural and substantive provisions of law, including appeals, now and hereafter in effect applicable to the levy, assessment, collection, cancellation, and abatement of the taxes.
Terms Used In Rhode Island General Laws 39-20-7
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Domestic electric utility: means an electric utility organized under the laws of, or having its principal place of business in, this state. See Rhode Island General Laws 39-20-2
- Electric-generating facilities: means electric-generating units rated five hundred megawatts (500 MW) or above, and generating stations in commercial generation on or before January 1, 1990, that are subsequently altered or modified to increase the rating of these stations by at least two hundred megawatts (200 MW), and related facilities including those for the transmission of the capacity and related energy from these units or stations. See Rhode Island General Laws 39-20-2
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
(b) Legislative consent is hereby given to the application of the laws of other states with respect to taxation, payments in lieu of taxes, and the assessment thereof to any domestic electric utility that has acquired or has an interest in an electric-generating facility or a portion thereof without the state or is otherwise acting without the state pursuant to powers granted in this chapter.
History of Section.
P.L. 1975, ch. 215, § 1; P.L. 1997, ch. 326, § 121.