R.I. Gen. Laws § 44-4.1-6 — Forfeiture

In the event of the failure of the owner to keep the property nondepreciable or to
maintain the property according to the commission’s guidelines during the period of
the tax reduction, the owner forfeits the property tax reduction retroactive to the
date the reduction commenced. All differences in the amount of taxes that were paid
and those that would have been due but for the reduction are payable together with
interest of twelve percent (12%) per annum from the dates that the payments would
have been due and are a lien against the historic residence. If the property is transferred
to a new owner within the period that the tax reduction applies, the tax reduction
shall cease, and not be applied to the new owner.