SECTION 1:   Section 21C of Chapter 59 of the Massachusetts General Laws is amended by adding the following—

“Upon receipt of a petition signed by five hundred (500) certified registered voters, the Board of Selectmen shall place a Proposition 2 ½ Underride Question, for the dollar amount specified in the petition, on an election ballot by no later than the next scheduled Annual Town Election; or sooner if a special or other appropriate election is scheduled before then.   The amount specified in a petition shall not exceed th e greater of either 2 ½% of the total current fiscal year budget amount, or as applicable, 50% of the override amount, appropriated for the current fiscal year.   If multiple petitions are submitted prior to any of the aforementioned scheduled elections the dollar amount for the Underride Question shall be taken from the petition the specifies the highest amount.   There shall be no limit on the number of times that a petition my be presented for Board of Selectmen action; however, the petition must be receiv ed by the Board of Selectmen at least fifty (50) calendar days before a scheduled election date.   This Act shall go into effect on the date of approval.”