It is enacted by the General Assembly as follows:

SECTION 1. Section 42-64-10 of the General Laws in Chapter 42-64 entitled "Rhode Island Port Authority and Economic Development Corporation" is hereby amended to read as follows:

{ADD 42-64-10. Findings of corporation. -- ADD} (a) Except as hereinafter specifically provided, the corporation shall not be empowered to undertake the acquisition, construction, reconstruction, rehabilitation, development, or improvement of a project {ADD , nor enter into a contract for any such undertaking or for the financing thereof, ADD} unless it first {ADD (1) ADD} finds:

{DEL (1) DEL} {ADD (A) ADD} That the acquisition or construction and operation of the project will prevent, eliminate, or reduce unemployment or under-employment in the state and will generally benefit economic development of the state;

{DEL (2) DEL} {ADD (B) ADD} That adequate provision has been made or will be made for the payment of {ADD the ADD} cost of the acquisition, construction, operation, and maintenance and upkeep of the project;

{DEL (3) DEL} {ADD (C) ADD} That, with respect to real property, the plans and specifications assure adequate light, air, sanitation, and fire protection;

{DEL (4) DEL} {ADD (D) ADD} That the project is in conformity with the applicable provisions of chapter 23 of title 46; {ADD and ADD}

{DEL (5) DEL} {ADD (E) ADD} That the project is in conformity with the applicable provisions of the state guide plan {DEL . DEL} {ADD ; and ADD}

{ADD (2) prepares and publicly releases an analysis of the impact the proposed project will or may have on:

(A) the industry or industries in which the completed project will be involved,

(B) state fiscal matters, including the state budget (revenues and expenses), and

(C) the financial exposure of the taxpayers of the state under the plans for the proposed project and negative foreseeable contingencies that may arise therefrom. ADD}

(b) With respect to the uses described in subdivisions (p), (v), (z), (dd), and (ee) of section 42-64-3 and with respect to projects situated on federal lands, the corporation shall not be required to make the findings specified in subsection (a)(1) {ADD (A) ADD} of this section.

(c) Except for the findings specified in subsections (a) {DEL (4) DEL} {ADD (1) (D) ADD} and (a) {DEL (5) DEL} {ADD (1)(E) ADD} of this section, the findings of the corporation made pursuant to this section shall be binding and conclusive for all purposes.

SECTION 2. This act shall take effect upon passage.