This Act amends the Town of Smyrna Charter as follows: (1) Authorizes the Town to impose school impact fees on new development and construction as long as the impact fees do not exceed the impact fee that would otherwise be imposed by Kent County or New Castle County on development in unincorporated areas. (2) Authorizes the Board of Elections, and not the Town Council, to hear and decide challenges that are raised to the qualifications of candidates for the office of mayor and council. (3) Specifies that a vacancy in a council seat caused by the council member being elected as mayor is to be filled by the Town Council if less than a year is left on the term or by a special election if more than 1 year is left on the term. (4) Clarifies the standards to be used when determining the domicile of a prospective voter or candidate for office. (5) Establishes a 3-year term of office for the Board of Elections and clarifies that a tie vote for an office shall be resolved by the toss of a coin. (6) Eliminates the requirement that the Town Council meet the first and third Monday of each month and authorizes the Town Council to determine the day and frequency of monthly meetings at the annual organizational meeting. (7) Revises the annual audit deadline from June 30 to August 31.