Exempts from taxation the real and tangible personal property of Community MusicWorks located in the city of Providence.

Plain-English Summary

This bill would give a property tax exemption to Community MusicWorks, a nonprofit organization located in Providence, Rhode Island. Specifically, it would exempt both the real property (land and buildings) and tangible personal property (physical items like equipment and furniture) that Community MusicWorks owns from being taxed by the city of Providence.

Community MusicWorks is a nonprofit that provides music education and community programs, primarily serving youth in Providence. If this bill passes, the organization would no longer have to pay local property taxes on the property it uses, which could free up more of its funds for its programs and operations. This type of tax exemption is fairly common for nonprofit organizations in Rhode Island, as many similar groups receive them through individual pieces of legislation.

The bill directly affects Community MusicWorks and the city of Providence. The organization would benefit financially by saving money on property taxes. On the other side, the city of Providence would lose some property tax revenue it currently collects from this organization, which could have a small impact on the city's budget. Residents of Providence could be indirectly affected depending on how the city adjusts for any reduction in tax revenue.

Currently, the bill has been referred to the Senate Housing and Municipal Government Committee and was recommended to be held for further study, meaning it has not yet advanced through the legislative process.