Additionally, the city solicitor or town counsel should prepare a fair and concise summary to be printed below the question which includes the surcharge percentage and any exemptions which are sought for approval by the petition. A community accepting the statute at an election held before the actual tax commitment for a fiscal year is made may impose the surcharge beginning in that fiscal year, or in the fiscal year that begins the July 1 after the election, as specified in the acceptance vote of the legislative body or in the ballot question petition. The city or town clerk must notify the Commissioner of Revenue if the statute is accepted. The notification must include the date and terms on which the voters accepted the Act. Amended Acceptance A city or town may amend the surcharge percentage and exemptions.
Amendment is by majority vote of the legislative body and by referendum.
Revocation of Acceptance At any time after the expiration of five years after the date on which sections 3 to 7, inclusive, have been accepted in a city or town, said sections may be revoked in the same manner as they were accepted by such city or town, but the surcharge imposed under section 3 shall remain in effect in any such city or town, with respect to unpaid taxes on past transactions and with respect to taxes due on future transactions, until all contractual obligations incurred by the city or town prior to such termination shall have been fully discharged.