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2013 -- H 5543 | |
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LC01469 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2013 | |
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H O U S E R E S O L U T I O N | |
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RESPECTFULLY REQUESTING THE RHODE ISLAND CONGRESSIONAL DELEGATION | |
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TO HAVE RHODE ISLAND DECLARED AN "ECONOMIC RECOVERY ZONE" | |
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Introduced By: Representatives Marshall, Martin, Williams, Gallison, and Almeida | |
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Date Introduced: February 14, 2013 | |
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Referred To: House Finance | |
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WHEREAS, While Rhode Island’s economy is starting to show some growth and |
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recovery from the financial and economic crisis that our country has faced, a real economic |
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recovery is not possible without meaningful and effective action; and |
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WHEREAS, Recovery Zones are areas in our country having significant poverty, |
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unemployment, rate of home foreclosures, or general distress; and |
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WHEREAS, Designation as an Economic Recovery Zone is the first step towards |
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eligibility for various stimulus funding bonds and options; and |
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WHEREAS, This new type of exempt facility bond dramatically broadens financing |
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opportunities for corporate and for-profit borrowers with capital infrastructure projects; and |
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WHEREAS, In addition, this funding can provide a method of financing the capital |
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expenditures of businesses at interest rates that range from 65% to 80% of the borrower’s |
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conventional bank interest rates; and |
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WHEREAS, Total recovery from this economic crisis will not happen overnight, but |
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recognizing, initiating, and establishing the necessary steps towards long-term solutions are |
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essential; now, therefore be it |
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RESOLVED, That this House of Representatives of the State of Rhode Island and |
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Providence Plantations hereby urges our state’s Congressional Delegation to initiate and pursue |
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efforts to have Rhode Island declared an Economic Recovery Zone; and be it further |
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RESOLVED, That the Secretary of State be and hereby is authorized and directed to |
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transmit duly certified copies of this resolution to the members of the Rhode Island Congressional |
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Delegation. |
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LC01469 | |
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