Senate Bill 2702 amends Chapter 154 of the Private Acts of 1955, which governs the City of Charlotte, by making several significant changes to the definitions and powers of the city government. Notably, the definition of "Elector" is revised to specify that it includes individuals residing in the city or non-residents who own at least 50% of a property, excluding cemetery plots. The bill also modifies the city's authority to levy taxes, appropriating funds, and managing property, including the ability to acquire and hold property for public use. Additionally, it updates the structure and responsibilities of the City Council, including the appointment of a city clerk and the codification of ordinances.

The bill further clarifies the administrative duties of the Mayor, including the submission of annual budgets and the authority to appoint city officials. It establishes a city court with jurisdiction over city ordinances and outlines the process for appointing a city judge. The legislation also mandates an annual audit of the city's financial records and specifies that all contracts and purchases must be made by the city purchasing agent. Importantly, the act will only take effect upon a two-thirds approval vote from the legislative body of the City of Charlotte.