The bill amends Section 44-5-2 of the General Laws regarding the maximum levy for local taxes. It grants an exemption from the four percent (4%) property tax levy cap specifically to the town of Jamestown. The town may approve an annual budget that includes a proposed levy increase exceeding the standard percentage increases, as specified in subsection (a) or (b) of this section, provided that this proposed levy is clearly and unambiguously listed in the budget submitted to, and approved by, the voters of Jamestown at a duly called and properly conducted financial town meeting. This act is set to take effect upon passage.

Statutes affected:
1044: 44-5-2