It is enacted by the General Assembly as follows:

SECTION 1. Sections 42-117-3, 42-117-4, 42-117-6 and 42-117-8 of the General Laws in Chapter 42-117 entitled "Expedited Permit Process" are hereby amended to read as follows:

42-117-3. Definitions -- As used in this chapter, unless the context clearly indicates otherwise, the following words and phrases shall have the following meanings:

(1) "Economic development council" is the economic development council set forth in former section 42-63-5. "Economic development corporation" is the Rhode Island economic development corporation set forth in section 42-64-4 of the Rhode Island general laws.

(2) "Person" means any natural person, company, corporation, partnership, or any type of business entity.

(3) "Project of critical economic concern" means an undertaking designated by the economic development council economic development corporation to be significant, in its operational stage, by its ability to enhance, promote and encourage business, commerce, and industry in Rhode Island and to stimulate jobs and relieve underemployment and unemployment in Rhode Island.

(4) "State agency" means any office, department, board, commission, bureau, division, authority, public corporation, agency, or instrumentality of the state.

42-117-4. Request for status as a project of critical economic concern -- A person through the governor may apply to the economic development council economic development corporation and request that his or her project be classified as a project of critical economic concern. The council economic development corporation shall render a written decision on the request within thirty (30) forty-five (45) days of the filing and receipt of the request. If the project is found to be a project of critical economic concern, the council economic development corporation may issue a certificate of critical economic concern. A certificate of critical economic concern shall expire two (2) years from the date of issuance. However, a certificate of critical economic concern may be extended for an additional period of two (2) years at the discretion of the executive director of the economic development corporation.

42-117-6. Action by state agency -- (a) Within three (3) months of the submission of a substantially complete application, the state agency must render a written report on the status of the application. The report shall contain information which will enable the person to make a sound business decision as to whether or not to pursue the application. The report shall be sent to the applicant.

(b) If the application is not granted, then the state agency shall on the fourth, fifth, and sixth months of the anniversary of submission render a written report on the status of the application. If at the end of the sixth month, a decision has not been rendered on the application, then, in addition to the applicant, a copy of the written report shall be rendered monthly thereafter to the governor and the economic development council economic development corporation until a decision to accept or reject the application has been made.

42-117-8. Rules and regulations -- Each state agency and the economic development council economic development corporation shall promulgate rules and regulations in accordance with chapter 35 of title 42 to implement this chapter.

SECTION 2. This act shall take effect upon passage.