§ 44-35-2 — § 44-35-2. Purpose.

§ 44-35-2. Purpose.

The purpose of this chapter is to:

(1) Establish a procedure under which towns and cities may levy property taxes;

(2) Provide for full disclosure of the effect of rate and base changes on property tax revenues;

(3) Establish a procedure for public hearings on proposed budgets;

(4) Require municipalities to adopt a balanced budget; and

(5) Provide for fiscal oversight of municipalities incurring an operating deficit or an accumulated deficit in the preceding fiscal year.

Legislative History

P.L. 1979, ch. 298, § 1; P.L. 1981, ch. 297, § 1.