This bill would amend Chapter 44-3 of the General Laws to authorize the town of Cumberland to exempt or stabilize taxes on qualifying property used for manufacturing, commercial, residential, or mixed-use purposes. The town council would have the authority to vote to authorize this exemption or stabilization for a period of up to 20 years. The bill also outlines the conditions that must be met for the exemption or stabilization to be granted, including public hearings and a determination by the town council that granting the exemption or stabilization would benefit the town. The bill also specifies that renewable energy resources would qualify for tax stabilization agreements. This act would take effect upon passage.