§ 42-64-20.1 - Procedure. - Rhode Island Statutes

SECTION 42-64-20.1

   § 42-64-20.1  Procedure. – (a) A resolution by the board of directors of the corporation that adoptsconfirming 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 generalassembly when the general assembly passes a concurrent resolution of approvalwhich the corporation requests that, the resolution adopting confirming use ofthe tax exemption for a project by the lessee, be approved by the generalassembly. These requests shall be transmitted to the speaker of the house andthe president of the senate with copies to the chairpersons of the respectivefinance committees, and fiscal advisors. The request for approval shall include:

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

   (2) The corporation's findings required by §42-62-10(1); and

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