(a)  Any tourism improvement district previously established whose term has expired, or will expire, may be renewed by following the procedures for establishment as provided in this chapter.

Terms Used In Rhode Island General Laws 45-59.1-16

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Improvement: means an acquisition, construction, installation, or maintenance relating to tangible property, with an estimated useful life of five (5) years or more that is designed to provide benefits to assessed businesses. See Rhode Island General Laws 45-59.1-3
  • Tourism improvement district: means a tourism improvement district established pursuant to this chapter. See Rhode Island General Laws 45-59.1-3

(b)  Upon renewal, any remaining revenues derived from assessments, or any revenues derived from the sale of assets acquired with the revenues, shall be transferred to the renewed tourism improvement district.

(c)  There is no requirement that the boundaries, assessments, activities, or improvements of a renewed tourism improvement district be the same as the original or prior tourism improvement district.

History of Section.
P.L. 2022, ch. 282, § 1, effective June 29, 2022; P.L. 2022, ch. 283, § 1, effective June 29, 2022.