Title 42, Title 42 Affairs and Government

(a) The Rhode Island commerce corporation may establish one or more local or regional community advisory committees to consider and advise the corporation upon matters submitted to them by the corporation concerning the development of any area or any project, and may establish ru…

(a)(1) With respect to projects situated on federal land, the Rhode Island commerce corporation is authorized to plan, construct, reconstruct, rehabilitate, alter, improve, develop, maintain, and operate projects: (i) in conformity with the applicable provisions of chapter 1 of t…

(a) The Rhode Island commerce corporation shall, in furtherance of its responsibility to assist urban communities, provide for the establishment of an urban enterprise equity fund, the establishment of an urban business incubator, and such other programs and activities as the cor…

(a) Intent. To develop an integrated organizational structure to secure for Rhode Island and its people the full benefits of cost-effective renewable energy development from diverse sources. (b) Definitions. For purposes of this section, the following words and terms shall have t…

(a) In planning and carrying out projects, the Rhode Island commerce corporation shall conform to the applicable provisions of the state guide plan as that plan may from time to time be altered or amended. In determining whether its proposed projects are in conformity with the st…

The final approval or denial of a project plan for the location and construction of an oil refinery or a nuclear plant within the state is hereby expressly reserved to the general assembly notwithstanding any general or public law or ordinance to the contrary, and exclusively wit…

(a) The Rhode Island commerce corporation shall have the power and is authorized to issue from time to time its negotiable bonds and notes in one or more series in any principal amounts as in the opinion of the corporation shall be necessary to provide sufficient funds for achiev…

Money borrowed by the Rhode Island commerce corporation for the purpose of providing temporary financing of a project or projects or combination of projects pending the issuance of bonds or other notes, shall be evidenced by notes or other obligations. The principal and interest …

(a) The principal of and interest on any bonds or notes issued by the Rhode Island commerce corporation may be secured by a pledge of any revenues and receipts of the corporation and may be secured by a mortgage or other instrument covering all or any part of one or more projects…

To assure the continued operation and solvency of the Rhode Island commerce corporation for the carrying out of its corporate purposes: (1) The corporation may create and establish one or more special funds, “capital reserve funds,” and may pay into each capital reserve fund: (i)…

All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or notes or as revenues, receipts, or income, and moneys held by the Rhode Island commerce corporation in the tire site remediation account established pursuant to § 23-63-4.…

(a) It is found and declared that there exists in our state a condition of substantial and persistent unemployment and underemployment which causes hardship to many individuals and families, wastes vital human resources, increases the public assistance burdens of the state, impai…

(a) The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state, the increase of their commerce, welfare, and prosperity and for the improvement of their health and living conditions and will constitute the performance of…

A resolution by the board of directors of the corporation that adopts confirming use of the tax exemption for a project by the lessee as required in § 42-64-20(c) shall be deemed to have been approved by the general assembly when the general assembly passes a concurrent resolutio…

The notes and bonds of the Rhode Island commerce corporation are made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on an insurance business,…

The state does pledge to and agree with the holders of any bonds or notes issued under this chapter that the state will not limit or alter the rights vested in the Rhode Island commerce corporation to fulfill the terms of any agreements made with the holders until the bonds or no…

(a) Obligations issued under the provisions of this chapter, except those obligations secured by mortgages that are insured by the industrial building authority, shall not constitute a debt, liability, or obligation of the state or of any political subdivision of the state other …

Notwithstanding and in addition to any provisions for the redemption of bonds that may be contained in any contract with the holders of the bonds, the state may, upon furnishing sufficient funds, require the corporation to redeem, prior to maturity, as a whole, any issue of bonds…

(a) In the event that the Rhode Island commerce corporation shall default in the payment of principal of or interest on any bonds or notes issued under this chapter after the bonds or notes shall become due, whether at maturity or upon call for redemption, and the default shall c…

The Rhode Island commerce corporation is authorized to accept any moneys as may be appropriated from time to time by the general assembly for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation and…

(a) All state agencies may render any services to the Rhode Island commerce corporation within their respective functions as may be requested by the corporation. (b) Upon request of the corporation, any state agency is authorized and empowered to transfer to the corporation any o…

(a) The board shall approve and the Rhode Island commerce corporation shall submit to the governor, the president of the senate, the speaker of the house of representatives, and the secretary of state, within eleven (11) months after the close of its fiscal year, complete and det…

(a) The Rhode Island commerce corporation, in coordination with the statewide planning program, shall maintain an inventory of potential sites for development and act as a clearinghouse for investors and businesses that want to expand or locate in Rhode Island. (b) Further, the c…

As used in this chapter, the following words and terms shall have the following meanings, unless the context indicates another or different meaning or intent: (1) “Administrative penalty” means a monetary penalty not to exceed the civil penalty specified in § 42-64-9.2. (2) “Airp…

Insofar as the provisions of this chapter are inconsistent with the provisions of any other law or ordinance, general, special or local, the provisions of this chapter shall be controlling.

Nothing contained in this chapter shall restrict or limit the powers of the Rhode Island commerce corporation arising under any laws of this state except where those powers are expressly contrary to the provisions of this chapter; provided, however, that the corporation shall not…

When issuing rules and regulations or any amendments to rules and regulations or when adopting bylaws or amendments to bylaws, the corporation shall be subject to the provisions of chapter 35 of this title (“Administrative Procedures”).

This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.

If any clause, sentence, paragraph, section, or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, that judgment shall not affect, impair, or invalidate the remainder of the chapter but shall be confined in its operation to the clause, se…

(a) The director of the Rhode Island commerce corporation shall appoint a staff person to serve as the small business advocate. (b) The small business advocate shall: (1) Identify and convey specific concerns raised by small business in providing notice to the state agency propos…

The small business advocate may request from any government agency, and the agency is authorized and directed to provide, any cooperation and assistance, services, and data, within the jurisdiction of the agency, as will enable the small business advocate to properly perform or e…

(a) The general assembly recognizes that: (1) Many Rhode Island companies provide products and services that are routinely procured by a myriad of governmental entities. However, attempting to understand and comply with the numerous certification, registration, opportunity identi…

(a) The board of the Rhode Island commerce corporation shall be responsible for establishing accountability standards, reporting standards, and outcome measurements for each of its programs to include, but not be limited to, the use of tax credits, loans, loan guarantees, and oth…

(a) The board shall establish by January, 2014, a risk management program for all loans, loan guarantees, and all other financial commitments into which the corporation enters. The program shall be established in conjunction with the state’s banking regulators and shall consist o…

(a) Commencing July 1, 2014, and every five (5) years thereafter, the corporation shall be subject to a performance audit, conducted in compliance with the generally accepted governmental auditing standards, by the office of internal audit and program integrity or a certified pub…

There shall be established within the Rhode Island commerce corporation a business development center that supports businesses and projects through a customer centric approach to providing assistance or support as determined by the board of directors for businesses within Rhode I…

(a) There is authorized, created, and established a public corporation of the state having a distinct legal existence from the state and not constituting a department of state government, which is a governmental agency and public instrumentality of the state, to be known as the “…

(a) Notwithstanding any provisions of law to the contrary, a person, corporation, or other entity who has resolved its liability to the Rhode Island commerce corporation in a judicially approved good faith settlement is not liable for claims for contribution or equitable indemnit…

(a) On or before January 15, 2015, the Rhode Island commerce corporation shall prepare a report that identifies options for the creation of programs to provide access to capital for small and micro businesses in low-and-moderate income, minority, and other underserved communities…

(a) There is hereby established the Rhode Island-Ireland trade commission. The commission is advisory and shall consist of seven (7) members to be appointed as follows: (1) Two (2) members who shall be appointed by the president of the senate, shall have knowledge of or current o…

The Rhode Island commerce corporation is authorized, created, and established to be an agency under the jurisdiction of the state’s lead agency for economic development, the executive office of commerce, and to be the operating agency of the state to carry out the policies and pr…

(a) Except to the extent inconsistent with any specific provision of this chapter, the Rhode Island commerce corporation shall have the power: (1) To sue and be sued, complain and defend, in its corporate name. (2) To have a seal, which may be altered at pleasure and to use the s…

In addition to the powers enumerated in § 42-64-6, except to the extent inconsistent with any specific provision of this chapter, the Rhode Island commerce corporation shall have power: (1) To undertake the planning, development, construction, financing, management, operation of …

(a)(1) The parent corporation shall have the right to exercise and perform its powers and functions, or any of them, through one or more subsidiary corporations whose creation shall be approved and authorized by the general assembly. (2)(i) Express approval and authorization of t…

With respect to the ports of Newport and Galilee, the department of environmental management shall maintain, manage, and operate these ports in a manner that is consistent with their current use, for not less than ninety-nine (99) years, so that the commercial fishing industry is…

The Rhode Island commerce corporation shall establish a “Rhode Island Venture Capital Forum Program.” To establish the program, the corporation shall organize a statewide system for facilitating venture capital investing. Such system may include, but need not be limited to, the f…