Bill
Bill > H7311
RI H7311
RI H7311Limits the authority of the Rhode Island commerce corporation to finance any transaction to five million dollars ($5,000,000) for any one individual, business entity or project.
summary
Introduced
01/23/2026
01/23/2026
In Committee
01/23/2026
01/23/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
This act would limit the authority of the Rhode Island commerce corporation to finance any transaction to five million dollars ($5,000,000) for any one individual, business entity or project. This act would take effect upon passage.
AI Summary
This bill amends the Rhode Island General Laws to place a cap on the financial transactions the Rhode Island Commerce Corporation can undertake. Specifically, it limits the corporation's authority to finance any single transaction to a maximum of five million dollars ($5,000,000) for any one individual, business entity, or project, unless the General Assembly (the state's legislative body) grants authorization for additional funding. The bill also states that these changes will become effective immediately upon passage.
Committee Categories
Budget and Finance
Sponsors (6)
George Nardone (R)*,
Michael Chippendale (R),
Richard Fascia (R),
Christopher Paplauskas (R),
Bob Quattrocchi (R),
Paul Santucci (R),
Last Action
Introduced, referred to House Finance (on 01/23/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://status.rilegislature.gov/ |
| BillText | https://webserver.rilegislature.gov/BillText26/HouseText26/H7311.pdf |
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