2017 -- H 6149 | |
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LC002503 | |
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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 - COMMERCE CORPORATION | |
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Introduced By: Representatives Giarrusso, Mendonca, Nardolillo, Morgan, and | |
Date Introduced: April 26, 2017 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 42-64 of the General Laws entitled "Rhode Island Commerce |
2 | Corporation" is hereby amended by adding thereto the following section: |
3 | 42-64-7.14. Recreational facility exemption. |
4 | Notwithstanding the express powers granted to the commerce corporation by ยงยง42-64-6 |
5 | and 42-64-7, the corporation, without express general assembly approval by resolution, shall not |
6 | loan any funds or provide financial assistance of any kind or nature of more than five million |
7 | dollars ($5,000,000). |
8 | SECTION 2. This act shall take effect upon passage. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO STATE AFFAIRS AND GOVERNMENT - COMMERCE CORPORATION | |
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1 | This act would prohibit the state commerce corporation, without express general |
2 | assembly approval by resolution, from loaning any funds or financial assistance of more than five |
3 | million dollars ($5,000,000). |
4 | This act would take effect upon passage. |
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