It is enacted by the General Assembly as follows:

SECTION 1. Section 1 of Chapter 1834 of the Public Laws of 1931 entitled "An Act Fixing the Time for the Holding of a Financial Town Meeting and for the Election of Town Officers in the Town of Little Compton", amended by Chapter 2424 of the Public Laws of 1950, and by Chapter 5 of the Public Laws of 1982, and further amended by Chapter 10 of the Public Laws of 1991, is hereby further amended as follows:

"Section 1. The electors of the town of Little Compton, qualified to vote on any proposition to impose a tax or for the expenditure of money in said town, shall, {DEL on the third Saturday in May, 1991, and annually on the third Saturday DEL} {ADD on any day within the third week of May, 1994, and annually during the third week in each May thereafter, assemble in town meeting ADD} {DEL at one o'clock in the afternoon DEL} for the purpose of hearing official reports, ordering a tax or taxes, making appropriations and transacting other business appertaining to the financial affairs of said town. The {ADD date, time, ADD} place or location for holding such financial town meeting shall be designated by the town council of the town of Little Compton {ADD not later than April 1 of each year, ADD} and shall be stated in the call and warrant for said meeting. Said financial town meeting shall be warned and called and the list of electors qualified to vote therein shall be made out and canvassed in the same manner as provided by law with respect to elective town meetings."

SECTION 2. This act shall take effect upon passage.