Rhode Island General Laws 23-99-7. Annual reports
The hub shall submit a report, beginning on or before October 1, 2024, and on October 1 annually thereafter, to the governor, the speaker of the house, and the president of the senate. This report shall include:
(1) The hub’s receipts and expenditures during such fiscal year;
(2) The hub’s assets and liabilities at the end of its fiscal year;
(3) A list of all certified life sciences companies;
(4) A complete list of grants awarded by the hub and any other funding activities;
(5) Reports of patents or products resulting from funded activities;
(6) The status of construction of any real estate project resulting from certification, including whether construction is on-time and on-budget;
(7) Any federal initiatives that have an impact on life science companies doing business in the state; and
(8) Any concerns surrounding pending or threatened litigation, pending legislation both state and federal, or any other known material risks.
History of Section.
P.L. 2023, ch. 79, art. 7, § 2, effective September 1, 2023.
Terms Used In Rhode Island General Laws 23-99-7
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Hub: means the Rhode Island life science hub established by § 23-99-4. See Rhode Island General Laws 23-99-3
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Life science: means and shall include, but not be limited to, the science of: medical devices, biomedical technology, medical therapeutic therapies, biogenetics, biomedical engineering, biopharmaceuticals, genomics, biomanufacturing, diagnostics, digital health, and related fields. See Rhode Island General Laws 23-99-3
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
- State: means the state of Rhode Island. See Rhode Island General Laws 23-99-3