The bill proposes an amendment to Chapter 44-3 of the General Laws, specifically by adding a new section that would allow the town council of Portsmouth to provide tax exemptions, abatements, or enter into payment in lieu of taxes agreements for a property known as "Quaker Manor." This property, located at 2368 East Main Road and designated as tax assessor's map 39, lots 47A and 47C, is occupied by persons or families of low- or moderate-income.

The new section, 44-3-68, would enable the town council to take measures to alleviate the tax burden on Quaker Manor through various forms of tax relief. The act would become effective immediately upon passage. There are no deletions from the current law mentioned in the bill.