AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

SB 497 exempts the real and tangible personal property of the Center for Southeast Asians from local property taxes. This bill amends Rhode Island's tax code to add the Center specifically to the list of exempt properties under Section 44-3-3. The exemption applies directly to the Center's buildings, land, and other physical assets used for its operations. No other properties or organizations are affected by this change, and the bill does not alter existing tax rates or broader exemption rules. The legislation was signed into law on June 26, 2025.