Section 45-13.2-1. – Short title.

§ 45-13.2-1. Short title. This chapter shall be known as the “Municipal Incentive Aid Act.” History of Section.P.L. 2013, ch. 144, art. 11, § 1.

Section 45-13.2-2. – Legislative findings.

§ 45-13.2-2. Legislative findings. It is hereby found and declared as follows: (a) The fiscal health of its municipalities is of paramount importance to the state of Rhode Island; (b) Local municipalities in Rhode Island are facing ever-increasing costs for retirement related expenses; (c) Retirement plans represent significant cost drivers for municipal budgets; (d) Many […]

Section 45-13.2-3. – Definitions.

§ 45-13.2-3. Definitions. For purposes of this chapter “municipality” means any city or town of the state. History of Section.P.L. 2013, ch. 144, art. 11, § 1.

Section 45-13.2-4. – State Aid Incentive Program appropriated.

§ 45-13.2-4. State Aid Incentive Program appropriated. There are hereby appropriated funds for a state aid program entitled “Municipal Incentive Aid Program.” For fiscal year 2014, fiscal year 2015 and fiscal year 2016, the amount of five million dollars ($5,000,000) shall be appropriated. Municipal Incentive Aid shall be administered and managed by the division of […]

Section 45-13.2-5. – Purpose of the Municipal Incentive Aid Program.

§ 45-13.2-5. Purpose of the Municipal Incentive Aid Program. The purpose of this Municipal Incentive Aid program, shall be to encourage municipalities to improve the sustainability of their retirement plans and to reduce unfunded liabilities thereunder, by providing additional state aid to those municipalities that comply with the requirements and provisions of this chapter. History […]

Section 45-13.2-6. – Distributions.

§ 45-13.2-6. Distributions. (a) Municipal Incentive Aid described in this chapter shall be distributed to eligible municipalities on the basis of the most recent population estimate for each municipality as a share of the total state population reported by the U.S. Department of Commerce, Bureau of the Census as of January 1 in the year […]