AN ACT RELATING TO TOWNS AND CITIES -- REDEVELOPMENT PROJECTS

This bill expands a tax exemption for redevelopment projects to include the city of Central Falls, joining Providence and Pawtucket in this benefit. Under the new rule, real property acquired by redevelopment agencies in Central Falls will not be taxed unless the city council specifically passes an ordinance to allow it. This change applies immediately upon the bill's passage and affects only the specific real estate projects designated for redevelopment within the city.