Rhode Island 2025 Regular Session

Rhode Island Senate Bill S0042 Compare Versions

Only one version of the bill is available at this time.

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5	5	2025 -- S 0042
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7	7	LC000239
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9	9	S T A T E O F R H O D E I S L A N D
10	10	IN GENERAL ASSEMBLY
11	11	JANUARY SESSION, A.D. 2025
12	12	____________
13	13
14	14	A N A C T
15	15	RELATING TO STATE AFFAIRS AND GOVERNMENT -- QUASI-PUBLIC
16	16	CORPORATIONS ACCOUNT ABILITY AND TRANSPARENCY ACT
17	17	Introduced By: Senators Felag, LaMountain, McKenney, Murray, and DiPalma
18	18	Date Introduced: January 23, 2025
19	19	Referred To: Senate Finance
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22	22	It is enacted by the General Assembly as follows:
23	23	SECTION 1. Chapter 42-155 of the General Laws entitled "Quasi-Public Corporations 1
24	24	Accountability and Transparency Act" is hereby amended by adding thereto the following section: 2
25	25	42-155-11. Limitation on transfer or reallocation of funds collected by certain quasi-3
26	26	public entities. 4
27	27	(a) Quasi-public corporations and agencies perform essential government functions and/or 5
28	28	provide essential government services. Many quasi-public entities are granted the public power to 6
29	29	collect fees and/or generate other revenue and incur debt. Since quasi-public corporations manage 7
30	30	significant public resources, and in order to comply with the intent of § 42-155-2, quasi-public 8
31	31	corporations accountability and transparency act, all Rhode Island quasi-public corporations and 9
32	32	agencies should make their decisions and budgets especially transparent and open to public 10
33	33	scrutiny. 11
34	34	(b) The goals of public policy and transparency dictate that funds or monies collected by 12
35	35	quasi-public corporations or quasi-public agencies shall remain with the entities for use by the 13
36	36	entities in order to carry out their designated government functions and services and shall not be 14
37	37	subject to transfer or reallocation by order of or request by the governor or the general assembly to 15
38	38	the state's general fund or to another state agency, department, or quasi-public state agency or 16
39	39	corporation. In order to ensure the furtherance of the objectives of the quasi-public entities, at no 17
40	40	time shall the assets or other property of the entities inure to the benefit of any person or other 18
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42	42
43	43	LC000239 - Page 2 of 4
44	44	corporation or entity. 1
45	45	(c) The provisions of this section shall apply expressly to the following quasi-public state 2
46	46	entities: 3
47	47	(1) Capital center commission, established pursuant to 1981 Pub. L. chapter 332 and 4
48	48	amended by 1983 Pub. L. chapter 167 and 1994 Pub. L. chapter 19; 5
49	49	(2) Convention center authority, established pursuant to § 42-99-4; 6
50	50	(3) I-195 redevelopment district, established pursuant to § 42-64.14-5; 7
51	51	(4) Narragansett Bay water quality management district commission, established pursuant 8
52	52	to § 46-25-4; 9
53	53	(5) Quonset development corporation, established pursuant to § 42-64.10-2; 10
54	54	(6) Rhode Island airport corporation, established as a semi-autonomous subsidiary of the 11
55	55	then Rhode Island port authority in 1992 and now the Rhode Island commerce corporation pursuant 12
56	56	to § 42-64-7.1; 13
57	57	(7) Rhode Island commerce corporation, established pursuant to § 42-64-4, and its 14
58	58	subsidiaries; 15
59	59	(8) Rhode Island health and educational building corporation, established pursuant to § 45-16
60	60	38.1-4; 17
61	61	(9) Rhode Island housing and mortgage finance corporation, established pursuant to § 42-18
62	62	55-4; 19
63	63	(10) Rhode Island industrial facilities corporation, established pursuant to § 45-37.l-4; 20
64	64	(11) Rhode Island industrial-recreational building authority, established pursuant to § 42-21
65	65	34-4; 22
66	66	(12) Rhode Island infrastructure bank, established pursuant to § 46-12.2-3; 23
67	67	(13) Rhode Island public rail corporation, established pursuant to § 42-64.2-2; 24
68	68	(14) Rhode Island public transit authority, established pursuant to § 39-18-2; 25
69	69	(15) Rhode Island refunding bond authority, established pursuant to § 35-8.1-4; 26
70	70	(16) Rhode Island resource recovery corporation, established pursuant to § 23-19-6; 27
71	71	(17) Rhode Island student loan authority, established pursuant to § 16-62-4; 28
72	72	(18) Rhode Island tobacco settlement financing corporation, established pursuant to § 42-29
73	73	133-4; 30
74	74	(19) Rhode Island turnpike and bridge authority, established pursuant to § 24-12-2; 31
75	75	(20) Small business loan fund corporation, established pursuant to chapter 64 of title 42; 32
76	76	and 33
77	77	(21) Water resources board (corporate), established pursuant to § 46-15.1-2. 34
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81	81	SECTION 2. This act shall take effect upon passage. 1
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83	83	LC000239
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88	88	EXPLANATION
89	89	BY THE LEGISLATIVE COUNCIL
90	90	OF
91	91	A N A C T
92	92	RELATING TO STATE AFFAIRS AND GOVERNMENT -- QUASI-PUBLIC
93	93	CORPORATIONS ACCOUNT ABILITY AND TRANSPARENCY ACT
94	94	***
95	95	This act would provide that funds or monies collected by designated quasi-public 1
96	96	corporations or agencies not be subject to transfer or reallocation by order of the governor or general 2
97	97	assembly. This act would also mandate that quasi-public corporations limit the use of all funds and 3
98	98	property to perform the function or service for which the quasi-public corporation was created and 4
99	99	would prohibit the transfer or reallocation of funds held by a quasi-public corporation. 5
100	100	This act would take effect upon passage. 6
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102	102	LC000239
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