Rhode Island 2024 Regular Session

Rhode Island House Bill H8001

Introduced
3/5/24  
Refer
3/5/24  
Report Pass
3/12/24  
Engrossed
3/19/24  
Enrolled
3/21/24  

Caption

AUTHORIZING THE CHARIHO REGIONAL SCHOOL DISTRICT TO FINANCE THE CONSTRUCTION, FURNISHING AND EQUIPPING OF THREE ELEMENTARY SCHOOLS

Impact

The approval of H8001 would significantly impact education infrastructure within the Chariho Regional School District. By enabling the district to secure $150 million in funding, it would facilitate the construction of new educational facilities designed to enhance learning environments for students in these communities. Furthermore, the state housing aid component reinforces the state's commitment to supporting educational endeavors, thereby alleviating some financial burdens from local taxpayers. The act outlines that the school housing aid ratio will increase if construction starts by December 30, 2024, ensuring that projects are completed in a timely manner.

Summary

House Bill H8001 aims to authorize the Chariho Regional School District to finance the construction, furnishing, and equipping of three elementary schools located in Charlestown, Richmond, and Hopkinton. The bill proposes to fund these projects through the issuance of bonds and/or notes amounting to no more than $150,000,000. This funding is subject to the approval of state housing aid, which has a reimbursement rate of at least 61% at the time of issuance, potentially increasing to over 76% upon project completion. The projects also include improvements to the Switch Road Campus that encompass costs related to demolition, design, health and safety projects, and playgrounds.

Contention

While the bill received overwhelming support during voting, with 33 in favor and only 1 against, there may be concerns regarding the large amount of bonded debt that the district will undertake. Critics could argue about the long-term liability this introduces and whether it aligns with the community's financial capabilities. Additionally, while the state housing aid offers a financial cushion, any changes in state policy or budget cuts in future years might affect the reimbursement rates and funding stability, raising questions about the district's ability to sustain such projects over time.

Companion Bills

No companion bills found.

Previously Filed As

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 H5526

Authorizing The Town Of Middletown To Issue Not To Exceed $190,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Furnishing And Equipping Of A Middle School And High School And The Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of School Facilities Throughout The Town And All Attendant Expenses Including, But Not Limited To, Demolition, Engineering, Architectural And Landscaping Costs

RI S0206

Authorizing The Town Of Middletown To Issue Not To Exceed $190,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Furnishing And Equipping Of A Middle School And High School And The Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of School Facilities Throughout The Town And All Attendant Expenses Including, But Not Limited To, Demolition, Engineering, Architectural And Landscaping Costs

RI H6376

Authorizing The Town Of East Greenwich To Finance The Acquisition, Construction, Improvement, Renovation, Alteration, Furnishing And Equipping Of Public Schools And School Facilities In The Town And All Expenses Incident Thereto Including, But Not Limited To, Costs Of Design, Demolition, Athletic Fields, Landscaping, Parking And Costs Of Financing And To Issue Not More Than $180,000,000 Bonds And/or Notes Therefor

RI S0981

Authorizing The Town Of East Greenwich To Finance The Acquisition, Construction, Improvement, Renovation, Alteration, Furnishing And Equipping Of Public Schools And School Facilities In The Town And All Expenses Incident Thereto Including, But Not Limited To, Costs Of Design, Demolition, Athletic Fields, Landscaping, Parking And Costs Of Financing And To Issue Not More Than $180,000,000 Bonds And/or Notes Therefor

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 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 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

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RI S1073

Authorizing The Bristol Warren Regional School District To Issue Not To Exceed Two Hundred Million Dollars

RI H6455

Authorizing The Bristol Warren Regional School District To Issue Not To Exceed Two Hundred Million Dollars

RI H8313

AUTHORIZING THE CHARIHO REGIONAL SCHOOL DISTRICT TO FINANCE IMPROVEMENTS, FURNISHING, AND EQUIPMENT REPLACEMENTS AT THE SWITCH ROAD CAMPUS INCLUDING, BUT NOT LIMITED TO, COSTS OF DEMOLITION, DESIGN, HEALTH AND SAFETY PROJECTS, ROOFING, PLAYGROUNDS, LANDSCAPING, PAVING AND ALL EXPENSES INCIDENTAL THERETO BY THE ISSUANCE OF NOT MORE THAN $15,000,000 BONDS AND/OR NOTES THEREFOR, SUBJECT TO APPROVAL OF STATE HOUSING AID AT A REIMBURSEMENT RATE OR STATE SHARE RATIO OF NOT LESS THAN 61% AT THE TIME OF ISSUANCE, WHICH RATE OR RATIO MAY INCREASE TO 65% AT PROJECT COMPLETION

RI S3117

AUTHORIZING THE CHARIHO REGIONAL SCHOOL DISTRICT TO FINANCE IMPROVEMENTS, FURNISHING, AND EQUIPMENT REPLACEMENTS AT THE SWITCH ROAD CAMPUS INCLUDING, BUT NOT LIMITED TO, COSTS OF DEMOLITION, DESIGN, HEALTH AND SAFETY PROJECTS, ROOFING, PLAYGROUNDS, LANDSCAPING, PAVING AND ALL EXPENSES INCIDENTAL THERETO BY THE ISSUANCE OF NOT MORE THAN $15,000,000 BONDS AND/OR NOTES THEREFOR, SUBJECT TO APPROVAL OF STATE HOUSING AID AT A REIMBURSEMENT RATE OR STATE SHARE RATIO OF NOT LESS THAN 61% AT THE TIME OF ISSUANCE, WHICH RATE OR RATIO MAY INCREASE TO 65% AT PROJECT COMPLETION

MA H1382

Relative to reducing damage caused by the current foreclosure crisis in the historic districts of Massachusetts

MA H1575

Relative to reducing damage caused by the current foreclosure crisis in the historic districts of Massachusetts