SECTION 1. Section 2-3 of article 2 of the charter of the town of Grafton, which is on file with the archivist of the commonwealth, as provided in section 12 of chapter 43B of the General Laws, is hereby amended by striking out subsection (b) and inserting in place thereof the following subsection:-

(b) Finance Committee – There shall be a Finance Committee, the members of which shall be appointed by a 3-person committee that shall consist of the Town Clerk, a member of the Finance Committee who is not being considered for reappointment, and the Town Moderator. The number of members, the term of office, and any other conditions will be established by by-law. The subject matter of all proposals to be submitted to a Town Meeting by warrant article shall be referred to the Finance Committee by the Select Board. The Finance Committee shall report its recommendations on each article contained in a town meeting warrant, in writing, together with a brief statement of the reasons for each such recommendation. Before preparing its recommendations, the Finance Committee shall hold one or more public hearings to permit public discussion of the subject matter of all articles contained in the Warrant.

SECTION 2. This act shall take effect upon its passage.