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MAKING REVISED APPROPRIATIONS FOR THE SUPPORT OF THE STATE FOR THE FISCAL YEAR ENDING JUNE 30, 1998

Introduced By: Representatives Salisbury, Long and Kelley

Date Introduced : January 13, 1998

It is enacted by the General Assembly as follows:

Section 1. There is hereby appropriated, out of any money in the treasury not otherwise appropriated, to be expended during the fiscal year ending June 30, 1998 for the purposes hereinafter mentioned, such sums to be the sole change to any sum heretofore appropriated for the same fiscal year, notwithstanding the provisions of Section 22.2 of Chapter 4 and Section 15 of Chapter 3 of Title 35 of the Rhode Island General Laws and Section 6 of Chapter 41 of Title 42, of the Rhode Island General Laws. The state controller is hereby authorized to draw his or her orders upon the general treasurer for the payment of such sum, or so much thereof as may be required from time to time, upon receipt of properly authenticated vouchers.

Section 2. The State of Rhode Island is hereby authorized to borrow during its fiscal year ending June 30, 1999, in anticipation of receipts from taxes such sum or sums, at such time or times and upon such terms and conditions not inconsistent with the provisions and limitations of section 17 of article VI of the constitution of Rhode Island, as the general treasurer, with the advice of the governor, shall deem for the best interests of the state, provided that the amounts so borrowed shall not exceed one hundred fifty million dollars ($150,000,000), at any time outstanding. The state is hereby further authorized to give its promissory note or notes signed by the general treasurer and counter-signed by the secretary of state for the payment of any sum so borrowed. Any such proceeds shall be invested by the general treasurer until such time as they are needed. The interest income earned from such investments shall be used to pay the interest on the promissory note or notes, and any expense of issuing the promissory note or notes, with the balance remaining at the end of said fiscal year, if any, shall be used toward the payment of long term debt service of the state, unless prohibited by federal law or regulation.

Notwithstanding any other authority to the contrary, duly authorized bonds or notes of the state issued during the fiscal year ending June 30, 1999 may be issued in the form of commercial paper, so-called. In connection therewith, the state, acting through the general treasurer, may enter into agreements with banks, trust companies or other financial institutions within or outside the state, whether in the form of letters or lines of credit, liquidity facilities, insurance or other support arrangements. Any notes issued as commercial paper shall be in such amount and bear such terms as the general treasurer, with the advice of the governor, shall determine, which may include provisions for prepayment at any time with or without premium at the option of the state. Such notes may be sold at a premium or discount, and may bear interest or not and, if interest bearing, may bear interest at such rate or rates variable from time to time as determined by the Federal Reserve Bank Composite Index of Commercial Paper, or the Municipal Market Data General Market Index, or other similar commercial paper offerings, or other method specified in any agreement with brokers for the placement or marketing of any such notes issued as commercial paper, or other like agreements. Any such agreement may also include such other covenants and provisions for protecting the rights, security and remedies of the lenders as may, in the discretion of the general treasurer, be reasonable and proper and be reasonable, legal and proper. The general treasurer may also enter into agreements with brokers for the placement or marketing of any such notes of the state issued as commercial paper. Any notes of the state issued as commercial paper in anticipation of receipts from taxes in any fiscal year must also be issued in accordance with the provisions of section 17 of article VI of the constitution of Rhode Island and within the limitations set forth in section 1 of this act.

Section 3. Mental Health and Retardation: Notwithstanding the provisions of Section 35-3-15 of Chapter 35 of the Rhode Island General Laws, all unexpended and unencumbered balances as of June 30, 1998 relating to the Pirovano Trust in the Department of Mental Health and Retardation are hereby reappropriated to fiscal year 1999.

Section 4. Section 16-57-6.4 of the General Laws in Chapter 16-57 entitled "Higher Education Assistance Authority" is hereby amended to read as follows:

16-57-6.4. Prepaid tuition plan. -- (a) The authority shall, in conjunction with the executive director of the Rhode Island Student Loan Authority, the commissioner of higher education and the Advanced Tuition Payment Plant Commission, develop and present to the general assembly no later than {DEL December 1, 1997 DEL} {ADD May 1, 1998 ADD} a plan for the establishment of a prepaid tuition program.

Section 5. Higher Education Assistance Authority Need Based Grants and Work Opportunities end of year balances -- Reappropriation. -- Notwithstanding the provisions of section 35-3-15 of the general laws in chapter 35-3 entitled "State Budget", all unexpended, encumbered, and unencumbered balances of revenue appropriations for "Need Based Grants and Work Opportunities -- RIGL 16-56-6 and 16-56-8" contained in section 1 of this article within the Higher Education Assistance Authority, whether regular or special appropriations, at the end of fiscal year 1997-1998 shall be reappropriated in the ensuing fiscal year and made immediately available for the same purposes as the former applications.

Section 6. Allendale Dam - Reappropriation -- Notwithstanding any law to the contrary, all unexpended, encumbered, and unencumbered funds for the Allendale Dam - Delaware Plan fund appropriation in the Department of Environmental Management, whether a regular or special appropriation, for fiscal year 1998, shall be reappropriated to fiscal year 1999 and be made available for the same purpose as the former application.

Section 7. Consumer Protection/Education Account. Notwithstanding the provisions of section 5-61-3(b) for fiscal year 1998, the State Controller is hereby authorized to transfer all unencumbered and unexpended balances in the Consumer Protection/Education Account to general fund surplus.

Section 8. Section 5-61-3 of the General Laws in Chapter 5-61 entitled "Telephone Sales Solicitation Act" is hereby amended to read as follows:

5-61-3. Registration . -- (a) Not less than ten (10) days prior to doing business in this state, a telephone sales solicitation operation or telephonic seller shall register with the department by filing with the consumer protection division of the department the information required by section 5-61-4 and a filing fee of one hundred dollars ($100). A seller shall be deemed to do business in this state if the seller solicits prospective purchasers from locations in this state or solicits prospective purchasers who are located in this state. The information required by section 5-61-4 shall be submitted on a form provided by the attorney general. The information shall be verified by a declaration signed by each principal of the telephone sales solicitation operation under penalty of perjury. The declaration shall specify the date and location of signing. Information submitted pursuant to subdivision (j) or (k) of section 5-61-4 shall be clearly identified and appended to the filing.

(b) Registration of a telephone sales solicitation business shall be valid for one year from the effective date thereof and may be annually renewed by making the filing required by section 5-61-4 and paying a filing fee of one hundred dollars ($100), which shall be deposited into {DEL a consumer protection/education checking account to be used and maintained by the consumer protection division of the department of attorney general. DEL} {ADD the general fund as general revenue. ADD}

(c) Whenever, prior to expiration of a seller's annual registration, there is material change in the information required by section 5-61-4, the seller shall, within ten (10) days, file an addendum updating the information with the consumer protection division of the department. However, changes in salespersons soliciting on behalf of the seller shall be updated by addendums filed, if necessary, in quarterly intervals computed from the effective date of registration.

(d) Upon receipt of a filing and filing fee pursuant to subdivision (a) or (b), the department shall send the telephonic seller a written confirmation of receipt of the filing no later than ten (10) business days. If the seller has more than one business location, the written confirmation shall be sent to the principal business location identified in the seller's filing and the seller may make copies so that the seller has one for each business location. The seller shall post the confirmation of receipt of filing, within ten (10) days of receipt thereof, in a conspicuous place at each of the seller's business locations. The seller shall not commence any telephone solicitations until such time as the written confirmation has been received.

(e) The consumer protection division of the department of attorney general may delay, reject, or revoke a registration upon review of the information contained in the filing of the registration form, or as a result of information relating to the conduct of the business operation.

SECTION 9. Sections 1 through 7 shall take effect upon passage and section 8 shall take effect June 30, 1998.