§ 45-60-7. Collections of seasonal rental tax. (a) When receipt of consideration is by way of property other than money, the tax shall be levied and imposed on the fair market value of such nonmonetary consideration.

(b) The owner of the seasonal rental shall remit the tax to the town treasurer for deposit into the Block Island housing fund at the end of the rental season but no later than February 15th of the following year or at some other time as designated by the Block Island housing board.

(c) The town treasurer shall keep records showing the amount of taxes collected, which records shall disclose the taxes collected from each owner of such seasonal rental. The records of individual payments shall be kept confidential, as are sales and income tax records.

(d) The collections received by the town treasurer shall be deposited into the Block Island housing fund for use by the board as provided in this chapter.

(e) The board shall promulgate such rules and shall prescribe and publish such forms as may be necessary to effectuate the purposes of this section including, but not limited to, procedures for collection, timing, due dates and mailing of tax notices. The board is authorized to establish audit procedures and to assess for delinquent taxes.

(f) Any tax levied pursuant to this section shall be in addition to any other tax imposed pursuant to chapter 44-5-1 et seq., and in addition to all other taxes and fees and the consideration for the rental or lease.

History of Section. (P.L. 2005, ch. 355, § 2; P.L. 2005, ch. 435, § 2.)