The bill amends Section 44-5-2 of the General Laws regarding the levy and assessment of local taxes by introducing a new provision that allows the City of Providence a one-year levy cap exemption for fiscal year 2026. This exemption permits the city to levy a tax increase not to exceed eight percent (8%). This act serves as enabling legislation in furtherance of a unanimously passed Providence City Council resolution dated March 20, 2025, and signed by Mayor Brett Smiley on March 24, 2025. The act will take effect upon passage.

Statutes affected:
6162: 44-5-2