State Codes and Statutes
Statutes > Rhode-island > Title-23 > Chapter-23-19 > 23-19-26SECTION 23-19-26
§ 23-19-26 Tax exemption. – (a) The exercise of the powers granted by this chapter will be in all respectsfor the benefit of the people of the state, for their well-being and prosperityand for the improvement of their social and economic conditions, and thecorporation shall not be required to pay any tax or assessment on any propertyowned by the corporation under the provisions of this chapter or upon theincome from that property; nor shall the corporation be required to pay anyrecording fee or transfer tax of any kind on account of instruments recorded byit or on its behalf; nor shall the corporation be required to pay gasoline anddiesel engine fuel taxes for the fuel consumed by its vehicles and equipmentand used exclusively in the performance of its on-site duties pursuant to thischapter. The corporation shall pay each municipality in which the corporationsites a facility, as a payment in lieu of taxes, a minimum fee of: (1) Twodollars ($2.00) per ton for each ton of acceptable waste processed at thatfacility during each operating year of that facility, or (2) five hundredthousand dollars ($500,000) per operating year, whichever sum is greater. Eachof the minimum sums shall escalate in accordance with the same escalationformula by which the operation and maintenance fee set forth in the serviceagreement covering the facility escalates; provided further, however, thecorporation may direct payments in lieu of taxes to be paid to a city or townin which other properties or facilities are located. Nothing in this sectionshall preclude the corporation and a municipality within which a facility hasbeen sited, from negotiating and entering into a host community agreement thatprovides for benefits to the municipality, either monetary or non-monetary, inaddition to the payments in lieu of taxes set forth in this section.
(b) Any bonds, notes, or other obligations issued by thecorporation under the provisions of this chapter, the transfer, and the incomefrom the obligations (including any profits made by their sale ), shall at alltimes be free from taxation by the state or any political subdivision or otherinstrumentality of the state, excepting inheritance, estate, and gift taxes.
