§ 42-64-20.1 — § 42-64-20.1. Procedure.

Rhode Island § 42-64-20.1

• Jurisdiction: Rhode Island
• Title 42: State Affairs and Government
• Ch. 42-64: Rhode Island Commerce Corporation

Text

§ 42-64-20.1. Procedure.

A resolution by the board of directors of the corporation that adopts confirming use of the tax exemption for a project by the lessee as required in § 42-64-20(c) shall be deemed to have been approved by the general assembly when the general assembly passes a concurrent resolution of approval which the corporation requests that, the resolution adopting confirming use of the tax exemption for a project by the lessee, be approved by the general assembly. These requests shall be transmitted to the speaker of the house and the president of the senate with copies to the chairpersons of the respective finance committees, and fiscal advisors. The request for approval shall include:

(1) A full description of the project to which the tax exemption is related;

(2) The corporation's findings required by § 42-64-10(a)(1); and

(3) The corporation's analysis of impact required by § 42-64-10(a)(2).

Legislative History

P.L. 2006, ch. 246, art. 30, § 18.