(a)  The town council of the town of Burrillville may, by an ordinance pursuant to the home rule charter of the town of Burrillville, exempt from taxation the real property situated in that town and owned and/or occupied or otherwise controlled by the Industrial Foundation of Burrillville.

Terms Used In Rhode Island General Laws 44-3-33

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
  • town council: include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9

(b)  The town of Burrillville may impose any conditions or other requirements for the exemption of taxation upon the Industrial Foundation of Burrillville upon its dissolution as a nonprofit corporation or upon fulfillment of its chartered purpose.

(c)  The exemption if adopted by the town of Burrillville may be retroactive to December 31, 1986.

History of Section.
P.L. 1989, ch. 247, § 1.