AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- QUASI-PUBLIC CORPORATIONS ACCOUNTABILITY AND TRANSPARENCY ACT (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.)

S2357

2026 -- S 2357
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STATE OF RHODE ISLAND
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2026
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A N A C T
RELATING TO STATE AFFAIRS AND GOVERNMENT -- QUASI-PUBLIC
CORPORATIONS ACCOUNTABILITY AND TRANSPARENCY ACT

Introduced By:
Senators Felag, Burke, McKenney, Murray, Lauria, and DiMario

Date Introduced:
January 30, 2026

Referred To:
Senate Finance
It is enacted by the General Assembly as follows:
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SECTION 1. Chapter 42-155 of the General Laws entitled "Quasi-Public Corporations
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Accountability and Transparency Act" is hereby amended by adding thereto the following section:
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42-155-11. Limitation on transfer or reallocation of funds collected by certain quasi-
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public entities.

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(a) Quasi-public corporations and agencies perform essential government functions and/or
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provide essential government services. Many quasi-public entities are granted the public power to
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collect fees and/or generate other revenue and incur debt. Since quasi-public corporations manage
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significant public resources, and in order to comply with the intent of § 42-155-2, (quasi-public
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corporations accountability and transparency act) all Rhode Island quasi-public corporations and
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agencies should make their decisions and budgets especially transparent and open to public
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scrutiny.
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(b) The goals of public policy and transparency dictate that funds or monies collected by
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quasi-public corporations or quasi-public agencies shall remain with the entities for use by the
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entities in order to carry out their designated government functions and services and shall not be
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subject to transfer or reallocation by order of or request by the governor or the general assembly to
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the state's general fund or to another state agency, department, or quasi-public state agency or
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corporation. In order to ensure the furtherance of the objectives of the quasi-public entities, at no
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time shall the assets or other property of the entities inure to the benefit of any person or other

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corporation or entity.
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(c) The provisions of this section shall apply expressly to the following quasi-public state
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entities:
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(1) Convention center authority, established pursuant to § 42-99-4;
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(2) I-195 redevelopment district, established pursuant to § 42-64.14-5;
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(3) Narragansett Bay water quality management district commission, established pursuant
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to § 46-25-4;
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(4) Quonset development corporation, established pursuant to § 42-64.10-2;
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(5) Rhode Island airport corporation, established as a semi-autonomous subsidiary of the
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then Rhode Island port authority in 1992 and now the Rhode Island commerce corporation pursuant
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to § 42-64-7.1;
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(6) Rhode Island commerce corporation, established pursuant to § 42-64-4, and its
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subsidiaries;
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(7) Rhode Island health and educational building corporation, established pursuant to § 45-
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38.1-4;
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(8) Rhode Island housing and mortgage finance corporation, established pursuant to § 42-
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55-4;
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(9) Rhode Island industrial facilities corporation, established pursuant to § 45-37.l-4;
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(10) Rhode Island industrial-recreational building authority, established pursuant to § 42-
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34-4;
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(11) Rhode Island infrastructure bank, established pursuant to § 46-12.2-3;
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(12) Rhode Island public rail corporation, established pursuant to § 42-64.2-2;
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(13) Rhode Island public transit authority, established pursuant to § 39-18-2;
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(14) Rhode Island refunding bond authority, established pursuant to § 35-8.1-4;
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(15) Rhode Island resource recovery corporation, established pursuant to § 23-19-6;
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(16) Rhode Island student loan authority, established pursuant to § 16-62-4;
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(17) Rhode Island tobacco settlement financing corporation, established pursuant to § 42-
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133-4;
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(18) Rhode Island turnpike and bridge authority, established pursuant to § 24-12-2;
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(19) Small business loan fund corporation, established pursuant to chapter 64 of title 42;
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and
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(20) Water resources board (corporate), established pursuant to § 46-15.1-2.

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SECTION 2. This act shall take effect upon passage.
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EXPLANATION
BY THE LEGISLATIVE COUNCIL
OF
A N A C T
RELATING TO STATE AFFAIRS AND GOVERNMENT -- QUASI-PUBLIC
CORPORATIONS ACCOUNTABILITY AND TRANSPARENCY ACT
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This act would provide that funds or monies collected by designated quasi-public
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corporations or agencies not be subject to transfer or reallocation by order of the governor or general
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assembly. This act would also mandate that quasi-public corporations limit the use of all funds and
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property to perform the function or service for which the quasi-public corporation was created and
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would prohibit the transfer or reallocation of funds held by a quasi-public corporation.
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This act would take effect upon passage.
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