Sec. 74-49. - Wholesalers' stock in trade or inventory in foreign trade zone.

(a)

The stock in trade or inventory of wholesalers located in a foreign trade zone shall be exempt from the tangible tax for a period of 25 years; provided, however, this exemption shall not be available to any wholesaler which [who] relocates to the city from any other city or town within the state.

(b)

This exemption and any wholesaler qualifying for the exemption are subject to the definitions, terms and conditions of G.L. 1956, § 44-3-29, as amended.

(Ord. No. O-98-21, § I, 6-8-98)

Editor's note— Ordinance No. O-98-21, § I, adopted June 8, 1998, amended Ch. 74 by providing for § 74-47. Inasmuch as § 74-47 already existed in the Code, such provisions were included herein as § 74-49 at the editor's discretion.