ARTICLE
21
RELATING TO
SECTION 1. Section 42-11-2.4 of the General Laws in Chapter
42-11 entitled
"Department of
Administration" is hereby amended to read as follows:
created as a separate fund within the treasury to be known as
the state fleet replacement revolving
loan fund which shall be administered by the general
treasurer in accordance with the same laws
and fiscal procedures as the general funds of the state.
This fund, hereafter referred to as the
"revolving loan
fund", shall consist of such sums as the state may from time to time
appropriate,
as well as money received from the disposal of used vehicles,
loan, interest and service charge
payments from benefiting state agencies, as well as interest
earnings, money received from the
federal government, gifts, bequests, donations, or otherwise
from any public or private source.
(b) This fund shall be
used for the purpose of acquiring motor vehicles, both new and
used, and vehicle-related equipment and attachments for
state departments and agencies.
(c) The proceeds from
the repayment of any loans made for the purposes authorized
under this chapter shall be deposited in and returned to
the revolving loan fund in order to
constitute a continuing revolving fund for the purposes listed
above.
(d) The office of state
fleet operations of the
shall adopt rules and regulations consistent with the
purposes of this chapter and chapter 35 of
title 42, in order to provide for the orderly and equitable
disbursement and repayment of funds
from the revolving loan fund.
(e) Provided; however,
a total of four million two hundred thousand dollars ($4,200,000)
shall be made available as a direct grant from the
revolving loan fund for the required twenty
percent (20%) match for the Rhode Island Public Transit
Authority to obtain federal funds to
purchase buses through FY 2017. Any such sums need not be
repaid to the revolving loan fund.
SECTION 2. This article shall take effect upon passage.