Rhode Island § 45-50-19 § 45-50-19. Exemptions from taxation.

Rhode Island Statutes

§ 45-50-19 — § 45-50-19. Exemptions from taxation.

Rhode Island § 45-50-19

Title 45Towns and cities

Ch. 45-50Municipal Public Buildings Authorities

This text of Rhode Island § 45-50-19 (§ 45-50-19. Exemptions from taxation.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 45-50-19 (2026).

Text

§ 45-50-19. Exemptions from taxation.
The exercise of the powers granted by this chapter are, in all respects, for the benefit
            of the people of the municipality and the state of Rhode Island and for the facilitation
            of the conduct of their public business; and as the acquisition, construction, operation,
            and maintenance by the authority of the projects defined in this chapter constitute
            the performance of essential governmental functions, the authority is not required
            to pay any taxes or assessments upon the projects or upon any property acquired or
            used by the authority under the provisions of this chapter, or upon the income from
            the p

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§ 45-50-19. Exemptions from taxation.

The exercise of the powers granted by this chapter are, in all respects, for the benefit of the people of the municipality and the state of Rhode Island and for the facilitation of the conduct of their public business; and as the acquisition, construction, operation, and maintenance by the authority of the projects defined in this chapter constitute the performance of essential governmental functions, the authority is not required to pay any taxes or assessments upon the projects or upon any property acquired or used by the authority under the provisions of this chapter, or upon the income from the projects, or any other state or local tax of any kind or description, nor is the authority be required to pay any recording fee or transfer tax of any kind or description, and the bonds, issued under the provisions of this chapter, their transfer, and the income therefrom (including any profit made on the sale of the bonds) are at all times free from taxation by the state or any political subdivision or other instrumentality of the state, excepting estate taxes; and the authority shall pay property taxes and assessments on its properties located outside the boundaries of the city or town whose council established the authority.