AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

HB 5369 exempts the real and tangible personal property of the Providence Preservation Society from property taxes. This bill adds the society to the existing list of entities eligible for tax exemptions under Rhode Island law. The change directly affects the Providence Preservation Society by removing property tax obligations for its owned buildings and assets used in preservation work. The exemption applies to all real estate and tangible personal property held by the society, consistent with similar exemptions for nonprofit and historical organizations.