AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

HB 5512 exempts all real and tangible personal property owned by PROJECT Weber/RENEW, a Rhode Island nonprofit corporation, from state property taxes. This bill amends Rhode Island's tax code (specifically Section 44-3-3) to add PROJECT Weber/RENEW as a qualifying entity for property tax exemption, directly affecting only this organization. The key provision creates a new exemption category for the nonprofit's property, removing it from taxable status under the state's property taxation rules. This is a targeted tax exemption for a single entity, not a broad policy change. The bill was passed by both chambers and signed by the governor in June 2025.