Rhode Island H7287 clarifies the process for depositing settlement funds from non-multi-state initiatives and mandates general assembly authorization.

Rhode Island H7287 amends the General Laws to clarify the process for depositing settlement funds from non-multi-state initiatives. It establishes a restricted receipt account within the Department of Attorney General for certain settlement funds, including attorneys' fees. The act mandates that any settlement proceeds not deposited in this account must be placed in the general fund. Importantly, it requires express authorization from the general assembly before any settlement funds can be spent. This act takes effect upon passage.

Rhode Island H7287 clarifies the process for depositing settlement funds from non-multi-state initiatives and mandates general assembly authorization.

Rhode Island H7287 amends the General Laws to clarify the process for depositing settlement funds from non-multi-state initiatives. It establishes a restricted receipt account within the Department of Attorney General for certain settlement funds, including attorneys' fees. The act mandates that any settlement proceeds not deposited in this account must be placed in the general fund. Importantly, it requires express authorization from the general assembly before any settlement funds can be spent. This act takes effect upon passage.