The bill authorizes the town of Scituate to issue general obligation bonds and notes up to the amount of $3,500,000 to finance capital projects at Scituate schools. This authority is granted following a resolution by the town council dated May 9, 2024, and is subject to approval by the town's electors at a financial town meeting scheduled for June 4, 2024. The bill also stipulates that the bonds and notes issued under this act will be eligible for state housing aid reimbursement in accordance with § 16-7-44.

The bill serves as an enabling act required by § 16-7-44 and will take effect upon passage. However, it specifies that the state aid reimbursement for the bonds, notes, or other evidences of indebtedness issued for school projects is contingent upon the approval of these projects by the Rhode Island Department of Education (RIDE). The act confirms that the town council has already approved the financing, and it awaits or has received the approval of the town's electors.