SECTION 1. Notwithstanding any general or special law to the contrary, there is hereby established an office of treasurer-collector in the town of Stockbridge. The treasurer-collector shall have all the powers, perform the duties and be subject to the liabilities and penalties now or hereafter conferred and imposed by law on town treasurers and town collectors of taxes. The treasurer-collector shall be appointed and may be removed by the board of selectmen of the town. The board of selectmen may establish an employment contract with the treasurer-collector for salary, fringe benefits and other conditions of employment, including, but not limited to, severance pay, reimbursement for expense incurred in the performance of the duties of office, liability insurance, conditions of discipline, termination dismissal, reappointment, performance standards and leave.

SECTION 2. Notwithstanding section 1, upon the effective date of this act, the offices of elected town treasurer and elected tax collector shall be abolished and the terms of the officers holding the offices shall be terminated. The elected incumbent holding the office of town treasurer, if any, shall thereupon become the first appointed treasurer-collector and shall serve in such capacity for a period of time equivalent to the remainder of the incumbent’s elected term or sooner resignation or retirement. Thereafter, appointments to the position of treasurer-collector shall be made in accordance with said section 1.

SECTION 3. This act shall take effect upon its passage.