R.I. Gen. Laws § 44-5-12.2 — Tangible personal property exemption — Tax rate cap

Notwithstanding any other provision of law to the contrary, the tax rate for the class
of property that includes tangible personal property for any city, town, or fire district
that also establishes a tangible personal property assessment exemption, pursuant
to subsections (a)(51), (a)(66), or (c) of § 44-3-3, § 44-3-47, § 44-3-65, or any other provision of law that enables a city, town, or fire district to establish
a tangible personal property assessment exemption, shall be capped at the tax rate
in effect for the assessment date immediately preceding the assessment date on which
the exemption takes effect or the assessment date immediately following the effective
date of this section [June 27, 2022], whichever is later.