2013 -- H 6259

=======

LC02798

=======

STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2013

____________

A N A C T

RELATING TO STATE AFFAIRS AND GOVERNMENT -- BOND FINANCING OF QUASI -

PUBLIC ENTITIES

     Introduced By: Representatives Marshall, Costantino, Gallison, Silva, and Serpa

     Date Introduced: June 20, 2013

     Referred To: House Finance

It is enacted by the General Assembly as follows:

1-1

     SECTION 1. Title 42 of the General Laws entitled "STATE AFFAIRS AND

1-2

GOVERNMENT" is hereby amended by adding thereto the following chapter:

1-3

     CHAPTER 155

1-4

BOND FINANCING OF QUASI - PUBLIC AGENCIES

1-5

     42-155-1. Bond financing of quasi-public agencies – Prior approval required. --

1-6

Notwithstanding any provisions of the general or public laws to the contrary, no quasi-public

1-7

agency or instrumentality of the state shall apply for bond financing, without the prior written

1-8

approval of both the oversight and the finance committees of the house of representatives.

1-9

     SECTION 2. This act shall take effect upon passage.

=======

LC02798

=======

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO STATE AFFAIRS AND GOVERNMENT -- BOND FINANCING OF QUASI -

PUBLIC ENTITIES

***

2-1

     This act would provide that no quasi-public agency or instrumentality of the state would

2-2

apply for bond financing without the prior written approval of both the oversight and the finance

2-3

committees of the house of representatives.

2-4

     This act would take effect upon passage.

=======

LC02798

=======