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Rhode IslandS10392025 Regular SessionSenate

AN ACT RELATING TO HEALTH AND SAFETY -- THE RHODE ISLAND LIFE SCIENCE HUB ACT .

Sponsored By: Louis P. DiPalma (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

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

Life Science Hub fundraising and money safeguards

The Hub can create nonprofits to collect charitable gifts for its work or to lessen government burdens. Each nonprofit needs a conflict-of-interest policy; when it closes, assets must pass to the Hub, another nonprofit, or Rhode Island. All money received under the act, including bond proceeds and revenues, must be held as trust funds for authorized uses. Money not needed right away can be invested only in investments allowed for the State Investment Commission. These rules apply retroactively to September 1, 2023.

Investment funds for young life science companies

The Hub can run venture capital funds for early-stage Rhode Island life science companies. Companies receive capital in exchange for ownership shares and a proportional share of net profits. State appropriations and profits earned on that money cannot be paid to for-profit investors in those funds. The law specifies no funding amount and applies retroactively to September 1, 2023.

More funding options for life science companies

The Rhode Island Life Science Hub investment fund supports grants, loans, research, and investments in life science. Companies and qualifying affiliates must conduct research, development, manufacturing, incubation, or commercialization in Rhode Island and meet Hub certification standards. Covered fields include cell and gene therapies, health software, artificial intelligence, and marine, agricultural, and veterinary science. Certification requires committee review and majority Board approval; competitive awards require Board approval and the Treasurer’s signature. The law adds no new appropriation and takes effect on passage, retroactive to September 1, 2023.

Tax breaks for Hub and bondholders

The Hub, its property, and its money are exempt from Rhode Island state and local taxes and assessments. Documents recorded by or for the Hub are exempt from transfer taxes. Hub bonds and notes, and income from them, are also exempt from state and local taxes, except estate, inheritance, and gift taxes. These exemptions apply retroactively to September 1, 2023.

Life Science Hub can charge reasonable fees

The Hub can set and collect rents, fees, and charges that it finds reasonable. It can use that revenue for Hub purposes without another appropriation. The law sets no fee amounts or specific household payer group. This authority applies retroactively to September 1, 2023.

Life Science Hub gains public property access

The Hub can make authorized contracts lasting up to 20 years and buy, sell, or lease property with state public bodies. These public-body property deals can proceed despite laws or rules that otherwise restrict them. Municipalities can lend, lease, pledge, grant, or transfer property, including public roads, without advertising, court orders, or other formal steps. Municipal property must serve Hub purposes, with terms set by the local chief executive or, absent one, the council. These powers apply retroactively to September 1, 2023.

Life Science Hub borrowing and lender protections

Retroactive to September 1, 2023, the Hub can borrow and issue or refinance debt with maturities up to 30 years. State public-corporation debt rules apply when debt finances essential public facilities or has state financing-lease or guarantee backing. Rhode Island pledges not to alter Hub rights needed to honor bond agreements until principal, interest, and related costs are paid. Claims against pledged Hub assets take effect immediately and remain legally protected without filing paperwork. Hub bonds and notes become eligible investments and authorized deposits for public bodies, financial institutions, and others allowed to hold state obligations.

Sponsors & Cosponsors

Sponsor

  • Louis P. DiPalma

    Democratic • Senate

Cosponsors

  • Frank A. Ciccone, III

    Democratic • Senate

  • Walter S. Felag Jr.

    Democratic • Senate

  • Hanna M. Gallo

    Democratic • Senate

  • David P. Tikoian

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 102 • No: 6

House vote • 6/18/2025

THE RI LIFE SCIENCE HUB ACT PASSAGE IN CONCURRENCE

Yes: 66 • No: 6

Senate vote • 6/10/2025

HEALTH & SAFETY -- THE RHODE ISLAND LIFE SCIENCE HUB ACT Passage

Yes: 36 • No: 0

Actions Timeline

  1. Signed by Governor — Chapter 140

    6/24/2025Governor

  2. Transmitted to Governor

    6/18/2025Governor

  3. House passed Sub A in concurrence

    6/18/2025House

  4. Placed on House Calendar (06/18/2025)

    6/16/2025House

  5. Senate passed Sub A

    6/10/2025Senate

  6. Placed on Senate Calendar (06/10/2025)

    6/5/2025Senate

  7. Committee recommends passage of Sub A

    6/5/2025

  8. Proposed Substitute

    6/4/2025

  9. Scheduled for consideration (06/05/2025)

    6/3/2025

  10. Committee recommended measure be held for further study

    5/13/2025

  11. Scheduled for hearing and/or consideration (05/13/2025)

    5/9/2025

  12. Introduced, referred to Senate Finance

    5/9/2025Senate

Bill Text

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