Rhode Island 2024 Regular Session

Rhode Island Senate Bill S2547

Introduced
3/1/24  

Caption

Submits 2024 capital development program requesting the issuance of $100,000,000 in general obligation bonds to the voters for approval at the November 8, 2024, general election.

Impact

If passed, S2547 will authorize the state to issue bonds that are exempt from state taxation, strengthening their appeal to investors. The funds raised from these bonds will be allocated towards improvements in the transit system, including better access, the development of high-capacity transit, and the modernizing of the current services. This investment aims to enhance public transportation efficiency and accessibility for the citizens of Rhode Island.

Summary

Bill S2547 focuses on Rhode Island's 2024 capital development program, proposing the issuance of $100,000,000 in general obligation bonds for a state-wide transit initiative. The measure seeks approval from voters during the general election to be held on November 5, 2024. This initiative highlights the state's intent to improve existing transit services and expand accessibility through new infrastructure while integrating advanced technologies to enhance user experience.

Contention

There are potential points of contention regarding the bill, particularly about the long-term financial responsibilities it imposes on the state. Questions may arise around how the state plans to manage debt service and repayment of the bonds, especially in economic downturns. Additionally, varied opinions on the prioritization of transit funding over other public needs, such as education and healthcare, may contribute to the debate surrounding this bill.

Companion Bills

No companion bills found.

Previously Filed As

RI S1070

Authorizing The Town Of Lincoln To Issue Not To Exceed $14,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Development And Construction Of A New Town-wide Centralized Rescue Station And The Furnishing And Equipping Thereof And All Costs Related Thereto

RI H6453

Authorizing The Town Of Lincoln To Issue Not To Exceed $14,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Development And Construction Of A New Town-wide Centralized Rescue Station And The Furnishing And Equipping Thereof And All Costs Related Thereto

RI H6454

Authorizing The Town Of Lincoln To Issue Not To Exceed $25,000,000 General Obligation Bonds And Notes For The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Lincoln Elementary Schools

RI S1069

Authorizing The Town Of Lincoln To Issue Not To Exceed $25,000,000 General Obligation Bonds And Notes For The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Lincoln Elementary Schools

RI H5101

Authorizing The Town Of North Providence To Issue Not To Exceed $125,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Schools And School Facilities In The Town, Including, But Not Limited To, The Construction Of Three Elementary Schools, The Renovation Of Two Middle Schools And The Construction Of New Administrative Offices, Subject To Approval Of State Housing Aid At A Reimbursement Rate Or State Share Ratio Of Not Less Than 79.8% For Expenditures Eligible For Reimbursement

RI S0018

Authorizing The Town Of North Providence To Issue Not To Exceed $125,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Schools And School Facilities In The Town, Including, But Not Limited To, The Construction Of Three Elementary Schools, The Renovation Of Two Middle Schools And The Construction Of New Administrative Offices, Subject To Approval Of State Housing Aid At A Reimbursement Rate Or State Share Ratio Of Not Less Than 79.8% For Expenditures Eligible For Reimbursement

RI H6386

Authorizing The Stone Bridge Fire District To Issue General Obligation Bonds And/or Notes In An Amount Not To Exceed One Million Two Hundred Fifty Thousand Dollars

RI S0982

Authorizing The Stone Bridge Fire District To Issue General Obligation Bonds And/or Notes In An Amount Not To Exceed One Million Two Hundred Fifty Thousand Dollars

RI S1091

Authorizing The Town Of Cumberland To Issue Not To Exceed $52,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of A New Elementary School And Other Related School Facilities And The Demolition Of An Existing Elementary School On Land Presently Occupied By The B.f. Norton School In The Town Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

RI H6479

Authorizing The Town Of Cumberland To Issue Not To Exceed $52,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of A New Elementary School And Other Related School Facilities And The Demolition Of An Existing Elementary School On Land Presently Occupied By The B.f. Norton School In The Town Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

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