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Rhode IslandH86212026 Regular SessionHouse

AN ACT AUTHORIZING THE CITY OF CRANSTON TO FINANCE THE ACQUISITION, DEMOLITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, REPAIR, ALTERATION, FURNISHING AND EQUIPPING OF PUBLIC BUILDINGS IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $2,000,000 GENERAL OBLIGATION BONDS AND NOTES THEREFOR .

Sponsored By: Christopher G. Paplauskas (Republican)

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 1 benefits, 1 costs, 2 mixed.

Property taxes can rise to pay bonds

These bonds are general obligations of Cranston. The city must set aside money each year to pay principal and interest. If it does not, the unpaid amount is added to the annual tax levy. All taxable property in Cranston can be taxed without a rate or amount limit to pay this debt. Homeowners and renters may face higher property taxes or rents.

Cranston can borrow $2 million for buildings

The law lets Cranston issue up to $2 million in general obligation bonds to buy, build, fix, furnish, and equip public buildings. Bonds may be serial, term, zero-coupon, or capital appreciation, with first principal due within 5 years and final not later than 30 years after issuance. Any growth in principal on accreting bonds counts as interest for debt-limit rules, so only the original principal counts. Seven years after this act’s effective date, the council may cancel any unused borrowing authority. Bonds under this act can be issued without other government approvals unless this act requires them.

Short-term notes and grants for projects

The city can use short-term notes to cover costs before bonds or aid arrive. Original notes tied to bonds cannot exceed $2 million, and notes tied to aid cannot exceed the aid the finance director estimates. Notes must be repaid within 5 years, and total outstanding temporary notes cannot exceed 200% of the bond authority (up to $4 million). With council approval, the treasurer can advance city funds for projects and repay them without interest from bonds, aid, or other funds. The city may apply for federal or state grants and can hold unspent money in FDIC banks or U.S.-backed investments.

Voters must approve in 2026 election

Voters in Cranston must approve this borrowing. The question appears at the general election on November 3, 2026, or at a later special city-wide election set by the council. The ballot uses set language, and the city clerk keeps a copy of the act available before the vote. The borrowing authority takes effect only if voters approve.

Sponsors & Cosponsors

Sponsor

  • Christopher G. Paplauskas

    Republican • House

Cosponsors

  • Jacquelyn M. Baginski

    Democratic • House

  • David A. Bennett

    Democratic • House

  • Richard R. Fascia

    Republican • House

  • Arthur Handy

    Democratic • House

  • Joseph M. McNamara

    Democratic • House

  • Brandon C. Potter

    Democratic • House

  • Robert J. Quattrocchi

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 71 • No: 0

House vote • 6/11/2026

CRANSTON - BONDS & NOTES PASSAGE

Yes: 71 • No: 0

Actions Timeline

  1. Effective without Governor's signature

    6/26/2026Governor

  2. Transmitted to Governor

    6/18/2026Governor

  3. Senate passed in concurrence

    6/11/2026Senate

  4. Placed on the Senate Consent Calendar (06/11/2026)

    6/11/2026Senate

  5. House read and passed

    6/11/2026House

  6. Placed on House Calendar (06/11/2026)

    6/10/2026House

  7. Committee recommends passage

    6/10/2026

  8. Scheduled for hearing and/or consideration (06/10/2026)

    6/8/2026

  9. Introduced, referred to House Municipal Government & Housing

    6/5/2026House

Bill Text

  • H8621 - As Introduced

    6/5/2026

    HTMLPDF

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