Section 35-15-1. – Legislative findings.
§ 35-15-1. Legislative findings. It is declared that, for the benefit of the people of the state, the conduct and increase of their commerce, the protection and enhancement of their welfare, the development of continued prosperity, and the improvement of their health and living conditions, it is essential that this and future generations be given […]
Section 35-15-2. – Definitions.
§ 35-15-2. Definitions. As used in this chapter: (1) “College and university savings bond program” shall mean the program of encouraging enrollment in institutions of higher education by providing for a method of investment. (2) “General obligation bond acts” shall mean: (i) Any future public law which authorizes the state to issue its general obligation […]
Section 35-15-3. – Creation and duties of advisory board.
§ 35-15-3. Creation and duties of advisory board. (a) The state of Rhode Island savings bond advisory board is hereby created and established to perform the duties and exercise the powers listed in this section. Pursuant to the powers delegated to the department of the treasury, the department shall have the responsibility for supervising, organizing, […]
Section 35-15-4. – Issuance and sales of savings bonds.
§ 35-15-4. Issuance and sales of savings bonds. In order to provide the people of the state: (1) with access to institutions of higher education; and (2) the financial means to purchase residential housing; there shall be issued with all bonds of the state, authorized by the provisions of the general obligation bond acts, savings […]
Section 35-15-5. – Security for savings bonds.
§ 35-15-5. Security for savings bonds. Any savings bonds issued pursuant to this chapter shall be direct, general obligations of the state and subject to repayment as provided in the general obligation bond acts; provided, that in the proceedings of the governor and the general treasurer authorizing the issuance of the bonds, those officials may […]
Section 35-15-6. – Authorization of additional terms.
§ 35-15-6. Authorization of additional terms. Notwithstanding any contrary provision of any general obligation bond act, the general treasurer, with the approval of the governor, is authorized and empowered to issue bonds in serial or term form in the name of and on behalf of the state, in amounts that will raise usable bond proceeds […]
Section 35-16-1. – Purpose and membership.
§ 35-16-1. Purpose and membership. (a) In order to provide for a more stable and accurate method of financial planning and budgeting and to facilitate the adoption of a balanced budget wherein appropriations and expenditures do not exceed anticipated revenues, as is required by the statutes and constitution of Rhode Island, it is hereby declared […]
Section 35-16-2. – Meetings.
§ 35-16-2. Meetings. (a) The principals of the R.E.C. shall meet within the first ten (10) days of May and November of each year. (b) The primary purpose of regularly scheduled conferences is to prepare economic forecasts and forecast revenue estimates and review current revenue collections under current tax law. The conference principals can agree, […]
Section 35-16-3. – Additional meetings.
§ 35-16-3. Additional meetings. (a) Any time during a fiscal year that any principal feels that the recommendations of the revenue estimating conference are no longer valid, then that principal, with appropriate notice, may convene a revenue estimating conference. The principal requesting the additional conference shall be the chairperson for that conference. (b) If at […]
Section 35-16-4. – Impact meetings.
§ 35-16-4. Impact meetings. (a) The revenue estimating conference principals, along with the appropriate participants, will meet from time to time to compare current fiscal statistics with the most recent financial projection as required by § 35-3-1(a)(6). Any principal can call an impact meeting at any time. (b) Following each legislative session, the principals, along […]