Rhode Island General Laws 42-64-5. Purposes
The Rhode Island commerce corporation is authorized, created, and established to be an agency under the jurisdiction of the state‘s lead agency for economic development, the executive office of commerce, and to be the operating agency of the state to carry out the policies and procedure as established by the secretary, governor and the board of directors for the following purposes:
(1) To promote and encourage the preservation, expansion, and sound development of new and existing industry, business, commerce, agriculture, tourism, and recreational facilities in the state, which will promote the economic development of the state and the general welfare of its citizens; and
(2) With respect to real property other than federal land or land related to federal land, to undertake any project, except a residential facility; and
(3) With respect to federal land or land related to federal land, to undertake any project, except as those responsibilities are assigned to the Quonset Development Corporation; and
(4) To create an organization that is responsive to the needs and interests of businesses of all sizes within the state of Rhode Island and to be structured to be customer centric to enhance commerce in the state utilizing all available resources.
History of Section.
P.L. 1974, ch. 100, § 14; P.L. 1976, ch. 277, § 2; P.L. 1995, ch. 370, art. 12, § 8; P.L. 2004, ch. 351, § 1; P.L. 2004, ch. 360, § 1; P.L. 2013, ch. 243, § 3; P.L. 2013, ch. 490, § 3.
Terms Used In Rhode Island General Laws 42-64-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal land: means real property within the state, now acquired or hereafter acquired by the Rhode Island commerce corporation which was formerly owned by the United States government, or any agency or instrumentality thereof, including without limiting the generality of the foregoing, any and all real property now or formerly owned or used by the United States government in the towns of North Kingstown, Portsmouth, Middletown, and Charlestown and the city of Newport as military installations or for other purposes related to the national defense. See Rhode Island General Laws 42-64-3
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: means the state of Rhode Island. See Rhode Island General Laws 42-64-3