authorize municipalities to establish a local funding mechanism for capital improvement projects.

Summary

The bill lets cities and towns create a local tax on gross receipts, up to 1%, to finance capital improvements such as building, repairing, or acquiring property and equipment. A five‑member capital improvement board must approve the tax ordinance, and voters must endorse it with at least 60% support. Collected funds are placed in a dedicated outlay account for approved projects.

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