It is enacted by the General Assembly as follows

SECTION 1. The Kent County Water Authority may, by resolution, provide for the stabilization for the water usage rates and charges for any property owned for seven (7) years or more by a person who has reached the age of sixty-five (65) years. The Kent County Water Authority may, by such resolution, establish the number of necessary years of ownership and may establish other rules and regulations in order to enforce the provisions of this water rates stabilization act.

SECTION 2. This act shall be known as The Kent County Water Authority Water Rates Stabilization Act.

SECTION 3. This act shall take effect upon passage.