§ 44-4-4.2 - Leasehold improvements taxed to tenant of quasi-public corporation. - Rhode Island Statutes

SECTION 44-4-4.2

   § 44-4-4.2  Leasehold improvements taxed totenant of quasi-public corporation. – Commencing with taxes assessed on December 31, 2001, whenever real property isowned by a quasi-public corporation and leased to a tenant which is engaged inany business for profit, and that property is located at an airport terminalbuilding with more than ten thousand (10,000) air carrier aircraft operationsannually, any tax on leasehold improvements shall be paid by the tenant, who,for the purposes of taxation, shall be deemed to be the owner of the leaseholdimprovements, regardless of whether the improvements become state property,unless the improvements or the tenant or subtenant are otherwise exempt fromtaxation.