Rhode Island General Laws 45-37-7. Tax exemption and payment for services in lieu of taxes
Any industrial facility owned by the state or a municipality, as provided in § 45-37-3, is declared to be public property and is exempt from all taxes and special assessments of any municipality; provided, that in lieu of taxes and special assessments, the state or the municipality shall require any lessee, sublessee, or occupant of the industrial facility to make payments annually to the municipality in which an industrial facility is located for its just share of the public expense, including, but not limited to, education, highway maintenance, fire and police protection and other similar public expenses and governmental services; and provided, further, that the governor, or his or her designee, or the governing body of the municipality determines, after a hearing, that these payments constitute a just share of the public expense.
History of Section.
P.L. 1965, ch. 198, § 1.
Terms Used In Rhode Island General Laws 45-37-7
- Governing body: means the board or body in which the general legislative powers of a municipality are vested. See Rhode Island General Laws 45-37-2
- Industrial facility: means any land, any building, or other improvement, and all real and personal properties, including, but not limited to, machinery and equipment deemed necessary in connection therewith, whether or not now in existence, which are suitable for use for manufacturing, warehousing, or other industrial or commercial purposes, but does not include raw materials, work in process, or stock in trade. See Rhode Island General Laws 45-37-2
- Municipality: means any city or town in the state. See Rhode Island General Laws 45-37-2