Rhode Island General Laws 45-58-15. Tax exemption
It is hereby declared that the Pascoag utility district, in the carrying out of its quasi-municipal purposes, is in all respects providing essential services to the people of the state of Rhode Island that improves their health, safety and welfare. Accordingly, the district shall not be required to pay taxes, assessments or sums in lieu of taxes to the state of Rhode Island or any political subdivision thereof upon any of the property now owned or acquired in the future by the district, or under its jurisdiction and/or control, possession or supervision or upon its activities or operations, or upon any earnings, revenues, moneys or other income derived by the district. The bonds issued by the district and any income therefrom shall at all times be exempt from taxation; provided, however, nothing in this section shall have any effect upon the water resources board, or the division of public utilities and carriers, and/or the public utilities commission’s authority to impose regulation-related assessments and charges on Pascoag.
History of Section.
P.L. 2007, ch. 147, § 2; P.L. 2007, ch. 445, § 2.
Terms Used In Rhode Island General Laws 45-58-15
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Utility district: means the Pascoag utility district, a quasi-municipal corporation, district and political subdivision of the state established and empowered by this chapter to:
(i) Succeed to and fulfill the electric and water utility functions, powers, rights, property and obligations heretofore held and fulfilled by the Pascoag fire district created by the act passed at the May session 1887, entitled "An Act to Incorporate the Pascoag Fire District" as thereafter amended and supplemented from time to time;
(ii) Exercise certain additional powers as a water supplier, an electric distribution company and as a nonregulated power producer; and
(iii) To provide additional utility services not inconsistent with the duties, powers and obligations of the utility district as defined in this section. See Rhode Island General Laws 45-58-2