Provides that funds or monies collected by designated quasi-public corporations or agencies not be subject to transfer or reallocation by order of the governor or general assembly.
Summary
This bill amends Rhode Island’s Quasi-Public Corporations Accountability and Transparency Act to restrict how funds collected by specified quasi-public corporations and agencies may be used. It states that money or other assets collected by these entities must remain with the entity and be used only to carry out the government function or service for which the entity was created. The bill also says those funds may not be transferred or reallocated by order or request of the governor or the General Assembly to the state general fund or to another state agency, department, or quasi-public entity.
The bill applies this rule to a defined list of 21 quasi-public entities, including the Rhode Island Commerce Corporation, Rhode Island Airport Corporation, Rhode Island Public Transit Authority, Rhode Island Infrastructure Bank, Rhode Island Housing and Mortgage Finance Corporation, Rhode Island Resource Recovery Corporation, and others involved in transportation, housing, economic development, water resources, and financing. It would take effect immediately upon passage.
Impact
If enacted, the bill would limit executive and legislative discretion over the cash, revenues, and other assets held by the named quasi-public corporations and agencies. It would effectively bar the diversion of those funds to the state’s general fund or to other public entities, and would require the covered entities to retain and use their revenues for their own statutory purposes. The measure would directly affect the listed quasi-public corporations and their subsidiaries, while reinforcing the existing statutory framework governing quasi-public accountability and transparency.
Sentiment
Based on the bill text and the absence of recorded committee testimony or votes in the provided materials, the apparent sentiment is supportive of protecting quasi-public entities’ revenues from being swept or redirected. The bill’s findings emphasize transparency, public scrutiny, and preserving funds for the services and functions these entities were created to perform. No contrary viewpoints are documented in the available record.
Contention
The main point of contention likely concerns fiscal control and budget flexibility. Supporters would favor insulating quasi-public revenues from being used to balance the state budget or fund unrelated priorities, while opponents could argue that the governor and General Assembly should retain authority to reallocate public resources when needed. Another possible issue is the breadth of the bill’s coverage, since it applies to a wide range of entities involved in major infrastructure, housing, transit, and economic development functions.
Provides that funds or monies collected by designated quasi-public corporations or agencies not be subject to transfer or reallocation by order of the governor or general assembly.