§ 42-155-2. Legislative findings.
It is hereby found that:
(1) Quasi-public corporations are established and empowered by state law, and would not
exist but for their relationship with the state.
(2) Quasi-public corporations perform essential government functions and/or provide essential
government services.
(3) Many quasi-public corporations are granted the public power to collect fees and/or
generate other revenue and incur debt.
(4) Quasi-public corporations manage significant public resources; how
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§ 42-155-2. Legislative findings.
It is hereby found that:
(1) Quasi-public corporations are established and empowered by state law, and would not
exist but for their relationship with the state.
(2) Quasi-public corporations perform essential government functions and/or provide essential
government services.
(3) Many quasi-public corporations are granted the public power to collect fees and/or
generate other revenue and incur debt.
(4) Quasi-public corporations manage significant public resources; however, the majority
are exempt from many kinds of public oversight, such as executive and legislative
budgetary review required of state agencies and departments.
(5) It is essential that quasi-public corporations provide more, not less, transparency
by making their decisions and budgets especially transparent and open to public scrutiny,
and by demonstrating a commitment to protecting the interests of Rhode Island taxpayers
by achieving the highest standards of transparent, effective, and ethical operation.
(6) Quasi-public corporations are governed by independent boards that serve a critical
oversight function and there exists a need to strengthen the ability of board members
to carry out this oversight role.
(7) Rhode Island citizens rely on their government to provide oversight of quasi-public
corporations, with a goal of ensuring that these state entities carry out their government
missions effectively, and exemplify a commitment to transparent, accountable, and
effective government.
(8) The general assembly has made comprehensive amendments to the Rhode Island commerce
corporation's enabling legislation to enhance transparency and accountability; provide
board members with additional tools to exercise crucial oversight; establish increased
reporting requirements; and establish regularly scheduled audits of the corporation.
All Rhode Island quasi-public corporations should be held to these higher standards
of transparency and accountability.