This bill mandates that any special warrant articles with multi-year tax impacts in towns that have opted to require tax impact notations must include a specific notation detailing the estimated tax impact for each year. The legal language added to the current law specifies that these articles, including those with lease agreements, must indicate the estimated tax impact for the first five years or for each year if the impact is less than five years. The governing body of the town is responsible for determining and approving the estimated tax impact.

Additionally, the bill clarifies that the amended provisions will apply to any town or district that has already adopted the requirement for tax impact notations, eliminating the need for local amendments or re-adoption. The effective date of the act is set for 60 days after its passage, which is scheduled for August 30, 2025.

Statutes affected:
Introduced: 32:5
Version adopted by both bodies: 32:5
CHAPTERED FINAL VERSION: 32:5