R.I. Gen. Laws § 45-39.2-15
It is hereby declared that the Clear River electric and water district, in the carrying out its quasi-municipal purposes, is in all respects providing essential services to the people of the State of Rhode Island that improves their health, safety, and welfare. Accordingly, the electric and water district shall not be required to pay taxes, assessments, or sums in lieu of taxes to the State of Rhode Island or any political subdivision thereof upon any of the property now owned or acquired in the future by the electric and water district, or under its jurisdiction and/or control, possession, or supervision or upon its activities or operations, or upon any earnings, revenues, monies, or other income derived by the electric and water district. The bonds issued by the electric and water district and any income therefrom shall at all times be exempt from taxation; provided, however, nothing in this section shall have any effect upon the water resources board, or the division of public utilities and carriers, and/or the public utilities commission's authority to impose regulation-related assessments and charges on Clear River electric and water district.
R.I. Gen. Laws § 45-39.2-15