The bill amends Section 44-5-2 of the General Laws regarding the levy and assessment of local taxes. It establishes a one-year levy cap exemption for the town of Little Compton for fiscal year 2026, allowing a maximum tax levy increase of twelve percent (12%), subject to approval by the Little Compton Financial Town Meeting. This provision provides financial flexibility for the town during that fiscal year. The act will take effect upon passage.

Statutes affected:
1095: 44-5-2