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

Statutes affected:
1095: 44-5-2