Rhode Island General Laws Title 44. Taxation § 44-4-4.2. Leasehold improvements taxed to tenant of quasi-public corporation

Commencing with taxes assessed on December 31, 2001, whenever real property is owned by a quasi-public corporation and leased to a tenant which is engaged in any business for profit, and that property is located at an airport terminal building with more than ten thousand (10,000) air carrier aircraft operations annually, 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 leasehold improvements, regardless of whether the improvements become state property, unless the improvements or the tenant or subtenant are otherwise exempt from taxation.