It is enacted by the General Assembly as follows:

SECTION 1. Section 44-5-20.3 of the General Laws in Chapter 44-5 entitled "Levy and Assessment of Local Taxes" is hereby amended to read as follows:

44-5-20.3. Property tax classification in Pawtucket -- Duties of assessor. Property tax classification in Pawtucket -- Duties of assessor and finance director. -- (a) The assessor of the city of Pawtucket on or before June 15 of each year shall make a full and fair cash valuation of all the estate, real and personal, including motor vehicles and trailers, subject to taxation, and determine the assessed valuation of each property class.

(b) The assessor shall provide to the finance director a list containing the full and fair cash valuation of each property class. The finance director has the authority to apply different rates of taxation to each property class and to determine the tax due and payable on the property; provided however, that: (1) those rates shall be pursuant to an annual tax resolution approved by the city council in the same manner as is provided for budget approval in the city charter; (2) the rate of taxation shall be uniform within each class; and (3) for each year, class 2 property rates shall not be more than one hundred and thirty percent (130%) of class 1 property tax rates.

SECTION 2. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local Taxes" is hereby amended by adding thereto the following section:

44-5-20.3.1. Property tax classification in Pawtucket -- Tax levy determination. -- The assessor shall provide to the finance director and the city council a list containing the full and fair cash valuation of each property class. The finance director shall, with the approval of the city council, annually determine the percentages of the tax levy to be apportioned each class of property and shall annually apply tax rates sufficient to produce the proportion of the total tax levy.

SECTION 3. This act shall take effect upon passage.