§ 44-4.1-5 — § 44-4.1-5. Restrictive covenant required.

Rhode Island § 44-4.1-5

• Jurisdiction: Rhode Island
• Title 44: Taxation
• Ch. 44-4.1: Historic Residence — Tax Credit

Text

§ 44-4.1-5. Restrictive covenant required.

No historic residence, or historic commercial structure, maintained or rehabilitated may benefit from the provisions of this chapter unless the owner of the historic residence, or historic commercial structure, grants a restrictive covenant to the commission, agreeing that the historic residence, or historic commercial structure, shall retain its use and be maintained in a manner which preserves the historic character of the historic residence or historic commercial structure's rehabilitated portions historic character for a period equal to the length of the property tax reduction or until title to the property is transferred.

Legislative History

P.L. 1988, ch. 549, § 1; P.L. 2006, ch. 302, § 1; P.L. 2006, ch. 478, § 1.