The bill amends Chapter 637 of the Public Laws of 1910 to reflect the consolidation of the Harrisville Fire District Water Department with the Pascoag Utility District, resulting in the establishment of the Clear River Electric and Water District. Key provisions include the district's authority to provide fire suppression, emergency medical services, and streetlight power, along with various powers such as suing, acquiring property, borrowing money, and levying taxes. Significant changes include reducing the operating committee's membership from seven to five, establishing new election terms, and simplifying the election process by removing staggered terms. The bill also increases the budget cap that can be exceeded without prior approval from 2.5% to 5% and modifies meeting procedures, including notice requirements and quorum definitions.

Additionally, the bill outlines the responsibilities of the operating committee, including budget preparation and management of fire apparatus, and establishes a fire department with a fire chief appointed for a three-year term. It allows the district to enter binding agreements with adjacent fire districts for tax apportionment and changes the tax assessment deadline from August 15th to August 22nd. The bill also includes provisions for tax exemptions, penalties for late payments, and the ability to impose fees in lieu of taxes on electricity generation facilities. Notably, it repeals a previous provision related to eminent domain and affirms that the district will not be classified as a public utility if it adheres to specific pricing regulations. The charter can be amended by a majority vote of the electors, with amendments taking effect only upon passage by the general assembly.