It is enacted by the General Assembly as follows:

SECTION 1. Section 46-5-10 of the General Laws in Chapter 46-5 entitled "Construction of Port Facilities" is hereby amended to read as follows:

46-5-10. Lease of facilities -- The director may from time to time, in the name of the state of Rhode Island, lease any property, whether improved or unimproved, acquired by purchase or by the process of law, and storage facilities, wharves, piers, bulkheads, docks, sheds, warehouses, and industrial locations within the director's charge, for any term or terms not exceeding twenty (20) years, except for the port of Galilee, in which property may be leased for a term of up to forty (40) years for commercial fishing industry-related purposes, and for such rent and with such provisions and covenants as to the director shall seem to be advantageous to the state.

SECTION 2. This act shall take effect upon passage.