The bill amends Section 44-5-2 of the General Laws regarding the levy and assessment of local taxes. It introduces a new provision that allows the City of Providence a one-year levy cap exemption for fiscal year 2026, permitting a tax increase of up to eight percent (8%). This exemption is enabling legislation in furtherance of a resolution unanimously passed by the Providence City Council on March 20, 2025, and signed by Mayor Brett Smiley on March 24, 2025. The act is set to take effect upon passage.

Statutes affected:
1041: 44-5-2