Section 42-64-35. – Government contract procurement assistance.
§ 42-64-35. Government contract procurement assistance. (a) The general assembly recognizes that: (1) Many Rhode Island companies provide products and services which are routinely procured by a myriad of governmental entities. However, attempting to understand and comply with the numerous certification, registration, opportunity identification, proposal, and contract requirements associated with government procurement often raises significant […]
Section 42-64-36. – Program accountability.
§ 42-64-36. Program accountability. (a) The board of the Rhode Island commerce corporation shall be responsible for establishing accountability standards, reporting standards, and outcome measurements for each of its programs to include, but not be limited to, the use of tax credits, loans, loan guarantees, and other financial transactions managed or utilized by the corporation. […]
Section 42-64-37. – Loan and loan guarantee programs.
§ 42-64-37. Loan and loan guarantee programs. (a) The board shall establish by January, 2014, a risk management program for all loans, loan guarantees and all other financial commitments into which the corporation enters. The program shall be established in conjunction with the state’s banking regulators and shall consist of at least the following components: […]
Section 42-64-38. – Audit of the corporation.
§ 42-64-38. Audit of the corporation. (a) Commencing July 1, 2014, and every five (5) years thereafter, the corporation shall be subject to a performance audit, conducted in compliance with the generally accepted governmental auditing standards, by the office of internal audit or a certified public accounting firm qualified in performance audits. (b) If the […]
Section 42-64-39. – Business development center.
§ 42-64-39. Business development center. There shall be established within the Rhode Island commerce corporation a business development center that supports businesses and projects through a customer centric approach to providing assistance or support as determined by the board of directors for businesses within Rhode Island to maintain, expand and to create new employment opportunities. […]
Section 42-64-40. – Court-approved settlements.
§ 42-64-40. Court-approved settlements. (a) Notwithstanding any provisions of law to the contrary, a person, corporation, or other entity who has resolved its liability to the Rhode Island commerce corporation in a judicially approved good faith settlement is not liable for claims for contribution or equitable indemnity regarding matters addressed in the settlement. The settlement […]
Section 42-64-41. – Report regarding small business lending.
§ 42-64-41. Report regarding small business lending. (a) On or before January 15, 2015, the Rhode Island commerce corporation shall prepare a report that identifies options for the creation of programs to provide access to capital for small and micro businesses in low-and-moderate income, minority, and other underserved communities, including women-and-minority-owned businesses. (b) The report […]
Section 42-64-33. – Severability.
§ 42-64-33. Severability. If any clause, sentence, paragraph, section, or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, that judgment shall not affect, impair, or invalidate the remainder of the chapter but shall be confined in its operation to the clause, sentence, paragraph, section, or part directly […]
Section 42-64-34. – Appointment of small business advocate.
§ 42-64-34. Appointment of small business advocate. (a) The director of the Rhode Island commerce corporation shall appoint a staff person to serve as the small business advocate. (b) The small business advocate shall: (1) Identify and convey specific concerns raised by small business in providing notice to the state agency proposing the regulation; (2) […]
Section 42-64-34.1. – Cooperation required.
§ 42-64-34.1. Cooperation required. The small business advocate may request from any government agency, and the agency is authorized and directed to provide, any cooperation and assistance, services, and data, within the jurisdiction of the agency, as will enable the small business advocate to properly perform or exercise any of his or her functions, duties […]