It is enacted by the General Assembly as follows:

SECTION 1. Chapter 45-55 of the general laws entitled "Award of Municipal Contracts" is hereby amended by adding thereto the following section:

{ADD 45-55-13.1. Exclusion of multi-cities or towns insurance corporations and cooperative risk management programs. -- ADD} {ADD The provisions of chapter 45-55 shall not apply to entities organized pursuant to section 45-5-20.1 of the general laws. Said entities shall be exempt from all of the provisions of chapter 45-55. ADD}

SECTION 2. This act shall take effect upon passage.