R.I. Gen. Laws § 44-3-9.7 — South Kingstown — Exemption or stabilization of tax on qualified property used for manufacturing or commercial purposes in the town of South Kingstown

(a) Except as provided in this section, the town council of the town of South Kingstown
may vote to authorize, for a period not exceeding ten (10) years, and subject to the
conditions provided in this section, to exempt from payment, in whole or part, real
and personal property used for manufacturing or commercial purposes, or to determine
a stabilized amount of taxes to be paid on account of the 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 of 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 concern to locate in the town;
or
(ii) The willingness of a manufacturing firm to expand facilities with an increase in employment
or the willingness of a commercial or manufacturing concern to retain or expand its
facility in the town and not reduce its work force in the town; or
(iii) An improvement of the physical plant of the town that will result in long-term economic
benefits to the town and the state.
(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 or commercial 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 or commercial building investment by
the firm or concern in the town.
(b) Should the town council make the determination in paragraphs (a)(1)(i) — paragraphs
(a)(1)(iii), or subdivision (a)(2) of this section, an exemption or stabilization
may be granted for existing buildings, property, machinery, or facilities owned by
businesses already located in the town of South Kingstown on January 1, 2006.
(c) For the purposes of this section, “real property used for manufacturing or commercial
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 business, used for service industries, or used for any
other commercial business and the land on which the building or structure is situated
and not used for residential purposes.
(d) For purposes of this section, “personal property used for manufacturing or commercial
purposes” means any personal property owned by a firm or concern occupying a building,
structure, and/or land used for commercial purposes and used by such firm or concern
in its commercial enterprise including, without limitation, furniture, fixtures, equipment,
machinery, stock in trade, and inventory.
(e) Except as provided in this section, property for which taxes have been exempted in
whole or part, or stabilized pursuant to this section, shall not, during the period
for which taxes have been exempted or stabilized, be further liable to taxation by
the town so long as the property is used for the manufacturing or commercial purpose
for which the exemption or stabilization was granted.
(f) Notwithstanding any vote of, or 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
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.
(g) Any application for tax exemption or stabilization submitted pursuant to this section
shall be submitted before an application for development plan review is submitted
to the South Kingstown planning board, as applicable, or for other such permits and/or
approvals that may be required from any other town board or commission.
(h) Any tax exemption or stabilization granted by the town council pursuant to this section
shall be applicable for a period beginning on the first day of the fiscal year in
which the exemption or stabilization is granted.
(i) If a property owner whose property tax has been exempted or stabilized pursuant to
this section becomes delinquent in the payment of its property taxes, or transfers
ownership of its business, the town council shall have the authority to review and
terminate the tax exemption or stabilization agreement.