2015 -- H 5984

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LC002228

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2015

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A N   A C T

RELATING TO PUBLIC FINANCE -- BONDED INDEBTEDNESS OF STATE

     Introduced By: Representatives Morgan, Lancia, Reilly, Price, and Filippi

     Date Introduced: March 26, 2015

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 35-8 of the General Laws entitled "Bonded Indebtedness of State"

is hereby amended by adding thereto the following section:

     35-8-29. Indebtedness for professional sports facility to require referendum. –

Notwithstanding any general or public law or rule to the contrary, no financing, bonding,

agreement or tax treaty, or other financial arrangement which in any manner obligates the state

with respect to a baseball stadium, or other building, shall be entered into by any public official

acting on behalf of the state, with any entity or individual operating a professional sports

franchise or team, unless the financing, bonding, agreement or tax treaty or other financial

arrangement shall have been approved by the voters of the state pursuant to a referendum

conducted at a general election.

     SECTION 2. This act shall take effect upon passage.

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LC002228

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO PUBLIC FINANCE -- BONDED INDEBTEDNESS OF STATE

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     This act would require a referendum for public financing or tax relief in connection with

a professional baseball stadium.

     This act would take effect upon passage.

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LC002228

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