This bill amends Section 44-5-2 of the General Laws regarding the levy and assessment of local taxes. It permits the City of Providence a one-year levy cap exemption for fiscal year 2026, allowing a tax levy not to exceed eight percent (8%). This exemption is in response to specific financial needs and is supported by a resolution from the Providence City Council, which was unanimously passed on March 20, 2025, and signed by Mayor Brett Smiley on March 24, 2025. The act is designed to take effect immediately upon passage.

Statutes affected:
1041: 44-5-2