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. History of Section.P.L. 1979, ch. 298, § 1; P.L. 1981, ch. 297, § 1.
Rhode Island Legal Code