AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

SB 1132 exempts the real and personal property of the Rhode Island Business Development Institute (located at 220 Smith Street, Providence) from property taxation. This is a targeted amendment to Rhode Island's existing exemption list, adding the Institute's property as a specific exempt category under Section 44-3-3 of the General Laws. The bill does not change general tax rules but creates a new, limited exemption for this single organization's property. It directly affects the Rhode Island Business Development Institute by removing its property tax obligation for that specific location. The exemption applies to both the building and any personal property held there.