It is enacted by the General Assembly as follows:

SECTION 1. Notwithstanding the provisions of section 44-5-2, the town of Hopkinton is authorized to levy a tax for fiscal year 1998 by which its property tax levy increases over that in fiscal year 1997 by more than five and one-half percent (5.5%).

SECTION 2. Any levy pursuant to section 1 in excess of the five and one-half percent (5.5%) shall be approved by a majority of the electors present and voting at its financial town meeting.

SECTION 3. This act shall take effect upon passage.