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Ruggerio-backed bill targets more money from tax-exempts

March 16, 2012

A bill backed by Senate Majority Leader Dominick Ruggerio (and Senator Maryellen Goodwin) dovetails with the capital city’s quest to get more money from tax-exempt instituions. From the legislative news release:

Requested by the administration of Providence Mayor Angel Taveras, the legislation would enable any municipality to charge educational institutions and hospitals which are currently tax exempt an assessment of 25 percent of the taxes they would have been charged had their property been fully taxable. Further, the portion of property owned by colleges, universities and hospitals used for purposes to derive income other than by the provision of educational or healthcare services would no longer be exempt from taxation. (An example of this might be a sandwich shop on a university or hospital’s campus.)

“We all have a stake in the fiscal health of the Capital City,” said Majority Leader Ruggerio (D – Dist. 4,Providence,North Providence). “With Providence on the financial precipice, we remain hopeful that the tax exempt institutions will recognize not only the value of services they receive from the city, but the benefit we all receive from healthy, sustainable municipal government. This bill enables Providence, and all communities, to make decisions at the local level that impact their own well-being and derive some reimbursement for the services they provide colleges and hospitals.”

The backing of Ruggerio, a prominent labor figure, seems to augur well for the Providence bill.

Labor, meanwhile, has come out strongly against the municipal aid package outlined yesterday by Governor Chafee.

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