The bill amends Chapter 44-3 of the General Laws, which addresses property taxation, specifically for the town of North Kingstown. It introduces new provisions that authorize the town to provide a $200 tax credit or the equivalent assessment dollars to veterans and gold star parents. Additionally, the bill allows for a tax dollar credit or the equivalent assessment dollars for legally blind individuals. It also establishes a $450 tax credit or equivalent assessment dollars for owner-occupied real property for residents over the age of 65. The town council is granted the authority to review and adjust the exemption amounts and residency requirements at their discretion. The act is scheduled to take effect on July 1, 2025.