R.I. Gen. Laws § 44-3-9.3 — Burrillville — Exemption or stabilizing of taxes on qualifying property used for manufacturing, commercial or mixed-use purposes

(a) Except as provided in this section, the town council of the town of Burrillville may
vote to authorize, for a period not to exceed ten (10) years, and subject to the conditions
as provided in this section, to exempt from payment, in whole or in part, real and
personal property used for manufacturing, commercial or mixed-use purposes, or to
determine a stabilized amount of taxes to be paid on account of such property, notwithstanding
the valuation of the property or the rate of tax; provided, that after public hearings,
at least ten (10) days’ notice of which shall be given in a newspaper having a general
circulation in the town, the town council determines that:
(1) Granting of the exemption or stabilization of taxes will inure to the benefit of the
town by reason of:
(i) The willingness of the manufacturing or commercial firm or concern to locate in the
town; or
(ii) The willingness of a manufacturing or commercial firm or concern to expand facilities
with an increase in employment; or
(2) Granting of the exemption or stabilization of taxes will inure to the benefit of the
town by reason of the willingness of a manufacturing, commercial or mixed-use firm
or concern to replace, reconstruct, expand, or remodel existing buildings, facilities,
fixtures, machinery, or equipment with modern buildings, facilities, fixtures, machinery,
or equipment resulting in an increase in plant, commercial or mixed-use building investment
by the firm or concern in the town.
(b) For purposes of this section, “real property used for commercial or mixed-use purposes”
includes any building or structure used for offices or commercial enterprises, including,
without limitation, any building or structure used for wholesale, warehouse, distribution,
and/or storage businesses, used for service industries, or used for any other commercial
business, including mixed-use, and the land on which any such building or structure
is situated and not used solely for residential purposes.
(c) For purposes of this section, “personal property used for commercial or mixed-use
purposes” means any personal property owned by a firm or concern occupying a building,
structure, and/or land used for commercial or mixed-use purposes and used by such
firm or concern in its commercial or mixed-use enterprise including, without limitation,
furniture, fixtures, equipment, machinery, stock in trade, and inventory.
(d) Except as provided in this section, real and personal property, the payment of taxes
on which has been so exempted or that is subject to the payment of a stabilized amount
of taxes, shall not, during the period for which the exemption or stabilization of
the amount of taxes is granted, be further liable to taxation by the town in which
the property is located so long as the property is used for the manufacturing, commercial
or mixed-use purposes for which the exemption or stabilized amount of taxes was made.
(e) Notwithstanding any vote and findings by the town council, the property shall be assessed
for and shall pay that portion of the tax, if any, assessed by the town of Burrillville,
for the purpose of paying the indebtedness of the town and the indebtedness of the
state or any political subdivision of the state to the extent assessed upon or apportioned
to the town, and the interest on the indebtedness, and for appropriation to any sinking
fund of the town, which portion of the tax shall be paid in full, and the taxes so
assessed and collected shall be kept in a separate account and used only for that
purpose.