Rhode Island H7311 limits the Rhode Island Commerce Corporation's financing authority to $5 million per transaction.

Rhode Island H7311 amends the General Laws to restrict the Rhode Island Commerce Corporation's ability to finance any transaction to a maximum of five million dollars ($5,000,000) for any one individual, business entity, or project. This limitation applies unless additional funding is authorized by the General Assembly. The bill aims to control the financial commitments of the corporation, ensuring that significant transactions require legislative approval beyond the set cap.

Rhode Island H7311 limits the Rhode Island Commerce Corporation's financing authority to $5 million per transaction.

Rhode Island H7311 amends the General Laws to restrict the Rhode Island Commerce Corporation's ability to finance any transaction to a maximum of five million dollars ($5,000,000) for any one individual, business entity, or project. This limitation applies unless additional funding is authorized by the General Assembly. The bill aims to control the financial commitments of the corporation, ensuring that significant transactions require legislative approval beyond the set cap.