§ 39-20-7 — § 39-20-7. Taxation.

§ 39-20-7. Taxation.

(a) The interests of domestic electric utilities and foreign electric utilities in all electric-generating facilities located in this state shall be liable to taxation by the cities and towns under the provisions of chapters 3 — 5 of title 44. To the extent that the interests may be exempt from taxation because: (1) The interests are owned by a quasi-municipal corporation that is exempt by the provisions of its charter from taxation by the city or town assessing the tax; or (2) The interests are owned by an individual, partnership, corporation, association, or entity that is exempt from taxation by any general or special law, the owners shall make payments to the city or town in lieu of those taxes in the same amounts as the taxes that would have been assessed were they not exempt. The payments in lieu of taxes to be made under this section shall be treated in the same manner as taxes for purposes of all procedural and substantive provisions of law, including appeals, now and hereafter in effect applicable to the levy, assessment, collection, cancellation, and abatement of the taxes.

(b) Legislative consent is hereby given to the application of the laws of other states with respect to taxation, payments in lieu of taxes, and the assessment thereof to any domestic electric utility that has acquired or has an interest in an electric-generating facility or a portion thereof without the state or is otherwise acting without the state pursuant to powers granted in this chapter.

Legislative History

P.L. 1975, ch. 215, § 1; P.L. 1997, ch. 326, § 121.