(a)  Total annual proceeds from the sale of any land and the buildings and improvements thereon, and other real property, title to which is vested in the state of Rhode Island or title to which will be vested in the state upon completion of any condemnation or other proceedings, shall be transferred to the information technology restricted receipt account (ITRR account) and made available for the purposes outlined in § 42-11-2.5(a), unless otherwise prohibited by federal law.

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Terms Used In Rhode Island General Laws 37-7-15

  • 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.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(b)  Provided, however, this shall not include proceeds from the sale of any land and the buildings and improvements thereon that will be created by the relocation of interstate route 195, which is sometimes collectively referred to as the “I-195 Surplus Land,” which land is identified in the “Rhode Island Interstate 195 Relocation Surplus Land: Redevelopment and Market Analysis” prepared by CKS Architecture & Urban Design dated 2009, and such term means those certain tracts or parcels of land situated in the city of Providence, county of Providence, state of Rhode Island, delineated on that certain plan of land captioned “Improvements to Interstate Route 195, Providence, Rhode Island, Proposed Development Parcel Plans 1 through 10, Scale: 1?=20?, May 2010, Bryant Associates, Inc., Engineers-Surveyors-Construction Managers, Lincoln, Rhode Island, Maguire Group, Inc., Architects/Engineers/Planners, Providence, Rhode Island.”

(c)  Subject to the approval of the director of the department of administration, the state controller is authorized to offset any currently recorded outstanding liability on the part of developmental disability organizations (DDOs) to repay previously authorized startup capital advances against the proceeds from the sale of group homes within a fiscal year prior to any sale proceeds being deposited into the information technology investment fund.

History of Section.
P.L. 2011, ch. 151, art. 26, § 1; P.L. 2017, ch. 302, art. 7, § 12; P.L. 2023, ch. 79, art. 2, § 6, effective June 16, 2023.