R.I. SENATE Majority Leader Michael J. McCaffrey has sponsored a bill, passed by the Senate, that would eliminate a sunset on a tax break for developers of residential homes and condos. / COURTESY R.I. GENERAL ASSEMBLY
PROVIDENCE – The R.I. Senate has approved legislation that will make permanent tax exemptions that apply to residential properties that are under construction or that have unsold, unoccupied dwellings. The existing law, sponsored by now-Senate Majority Leader Michael J. McCaffrey, D-Warwick, in 2015, created exemptions from taxation for residential developments that were either not complete…
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