2017 -- H 5776

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LC001194

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2017

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A N   A C T

RELATING TO STATE AFFAIRS AND GOVERNMENT - PUBLIC FINANCE

MANAGEMENT

     Introduced By: Representative Marvin L. Abney

     Date Introduced: March 01, 2017

     Referred To: House Finance

     (RI Health Educational Building Corp.)

It is enacted by the General Assembly as follows:

     SECTION 1. Section 42-10.1-5 of the General Laws in Chapter 42-10.1 entitled "Public

Finance Management Board" is hereby amended to read as follows:

     42-10.1-5. Fees authorized -- Fund established.

     (a) In connection with the discharge of its duties under this chapter, the board is

authorized to charge and impose fees for its services upon the lead underwriter or purchaser of

any affected debt issue, bond, or note in an amount equal to one-fortieth of one percent (1/40%)

of the issued principal amount of the issue. Amounts received under this section shall be

deposited as general revenue.

     (b) Notwithstanding any provisions of this section, any debt issues, bonds, or note of or

purchased by the Rhode Island health educational building corporation in relation to chapter 38.2

of title 45 entitled "school building authority capital fund" or chapter 7 of title 16 entitled

"foundation level support" shall not be subject to such fees.

     SECTION 2. This act shall take effect upon passage.

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LC001194

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO STATE AFFAIRS AND GOVERNMENT - PUBLIC FINANCE

MANAGEMENT

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     This act would waive any fees on debt issues, bonds, or notes of or purchased by the

Rhode Island health educational building corporation (RIHEBC) relating to the "school building

authority capital fund" or "foundation level support".

     This act would take effect upon passage.

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LC001194

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