It is enacted by the General Assembly as follows:

SECTION 1. Chapter 44-3 of the General Laws entitled "Property Subject to Taxation" is hereby amended by adding thereto the following section:

{ADD 44-3-39. Exemption of persons over the age of 65, Middletown. -- ADD} {ADD (a) Notwithstanding any other provisions of a general or special law to the contrary, the town council of the town of Middletown is hereby authorized to fix, by ordinance or resolution, the amount of the exemptions with respect to the assessed value from local taxation on taxable real property situated in the town, owned and occupied by any person over the age of sixty-five years, whether the real property be income-producing or not, in an amount not to exceed twenty thousand dollars ($20,000) of claimed income of the person or persons who own and occupy the premises. ADD}

SECTION 2. This act shall take effect upon passage.