TITLE 35
Public Finance

CHAPTER 35-15
Savings Bond Program

SECTION 35-15-2


§ 35-15-2 Definitions.

As used in this chapter:

(1) "College and university savings bond program" shall mean the program of encouraging enrollment in institutions of higher education by providing for a method of investment.

(2) "General obligation bond acts" shall mean:

(i) Any future public law which authorizes the state to issue its general obligation bonds, except those acts that expressly provide that this chapter shall not apply thereto; and

(ii) The following authorized but unissued bond authorizations of the state:

(A) Ten million dollars ($10,000,000) for land acquisition-industrial development under P.L. 1979, ch. 157;

(B) Sixty-four million, seven hundred thousand, dollars ($64,700,000) for the Narragansett Bay water quality management district commission under P.L. 1980, ch. 342;

(C) One million dollars ($1,000,000) for the purpose of state water supplies under P.L. 1980, ch. 163;

(D) Four thousand, six hundred, dollars ($4,600) for mental health, retardation, and hospitals under P.L. 1980, ch. 163;

(E) One million, three hundred ninety thousand, dollars ($1,390,000) for transportation under P.L. 1982, ch. 344, as amended by P.L. 1982, ch. 455;

(F) Two million, one hundred ten thousand, dollars ($2,110,000) for children, youth, and families under P.L. 1982, ch. 344;

(G) Seven million dollars ($7,000,000) for transportation under P.L. 1983, ch. 332;

(H) Seven million, four hundred thousand, dollars ($7,400,000) for a water facilities assistance program under P.L. 1983, ch. 332;

(I) Three million, four hundred forty thousand, dollars ($3,440,000) for mental health, retardation and hospitals under P.L. 1984, ch. 156;

(J) Five million dollars ($5,000,000) for environmental response fund-hazardous waste under P.L. 1984, ch. 403;

(K) Two million, two hundred thousand, dollars ($2,200,000) for higher education under P.L. 1984, ch. 156;

(L) Two million, twenty thousand, dollars ($2,020,000) for elementary and secondary education under P.L. 1984, ch. 156;

(M) Four million, five hundred fifty-five thousand, dollars ($4,555,000) for sewerage and water supply failure fund under P.L. 1984, ch. 420;

(N) Five million dollars ($5,000,000) for the emergency telephone system under P.L. 1984, ch. 144;

(O) Five million, five hundred thousand, dollars ($5,500,000) for state house renovations under P.L. 1985, ch. 367;

(P) Five million dollars ($5,000,000) for handicapped accessibility improvements under P.L. 1985, ch. 367;

(Q) Sixteen million dollars ($16,000,000) for transportation under P.L. 1985, ch. 367;

(R) One million, eight hundred fifteen thousand, dollars ($1,815,000) for agricultural land preservation under P.L. 1985, ch. 367;

(S) Nine million, six hundred eighty thousand, dollars ($9,680,000) for mental health, retardation, and hospitals under P.L. 1985, ch. 367;

(T) Sixteen million dollars ($16,000,000) for asbestos abatement under P.L. 1985, ch. 366;

(U) Seven million, eight hundred twenty thousand, dollars ($7,820,000) for heritage preservation under P.L. 1985, ch. 369;

(V) One million, five hundred thousand, dollars ($1,500,000) for underground storage tank replacement under P.L. 1985, ch. 486;

(W) Thirty-five million dollars ($35,000,000) for the Clean Water Act environmental trust fund under P.L. 1986, ch. 289;

(X) Eleven million, six hundred ninety thousand, dollars ($11,690,000) for mental health, retardation, and hospitals under P.L. 1986, ch. 419;

(Y) Fifty-five million, four hundred ninety thousand, dollars ($55,490,000) for transportation under P.L. 1986, ch. 419;

(Z) Thirteen million, six hundred thousand, dollars ($13,600,000) for water resources under P.L. 1986, ch. 419;

(AA) Fifteen million, twenty-five thousand, dollars ($15,025,000) for environmental management under P.L. 1986, ch. 419;

(BB) One million, five hundred eighty thousand, dollars ($1,580,000) for human services under P.L. 1986, ch. 419;

(CC) Six million, five hundred thousand, dollars ($6,500,000) for children, youth, and families under P.L. 1986, ch. 419;

(DD) Two million dollars ($2,000,000) for hazardous waste under P.L. 1986, ch. 419;

(EE) Eight million, seven hundred thousand, dollars ($8,700,000) for higher education facilities under P.L. 1986, ch. 419;

(FF) Sixty-five million, two hundred thousand, dollars ($65,200,000) for open space and recreational areas under P.L. 1987, ch. 425; and

(GG) Twelve million, twenty-five thousand, dollars ($12,025,000) for Blackstone Valley district commission P.L. 1986, ch. 289;

(3) "Housing assistance downpayment savings bond program" shall mean the program of enhancing the ability of residents of the state to purchase residential dwellings within the state by providing for a method of savings and investment.

(4) "Institution of higher education" shall mean an educational institution situated within or without this state which by virtue of law or charter is a public or other nonprofit educational institution empowered to provide a program of education beyond the high school level and which is accredited by a nationally recognized educational accrediting agency or association and awards an associate's, bachelor's, or advance degree or provides a program of not less than two (2) years' duration which is acceptable for full credit toward a bachelor's degree.

(5) "Rhode Island savings bonds" shall mean general obligation bonds of the state which are:

(i) Designated as general obligation savings bonds by the governor and the general treasurer; and

(ii) Are issued under the provisions of the "general obligation and bonds acts", as that term is defined in paragraph (2).

(6) "State" shall mean the state of Rhode Island and Providence Plantations.

(7) "State of Rhode Island savings plan advisory board" or "advisory board" shall mean the board created and established in § 35-15-3.

History of Section.
(P.L. 1988, ch. 426, § 1; P.L. 1990, ch. 54, § 1.)