Rhode Island General Laws 23-99-2. Legislative purpose
The purpose of this chapter shall be to create and lawfully manage the Rhode Island life science hub, a public corporation. The Rhode Island life science hub shall be the central entity and coordinating organization of life science initiatives on behalf of the state and shall:
(1) Facilitate the development of medical advances and scientific breakthroughs with companies that specialize in the fields of: medical devices, biomedical technology, medical therapeutic therapies, biogenetics, biomedical engineering, biopharmaceuticals, genomics, and life sciences; and
(2) Through targeted investment of grants, tax credits, and incentives, fund and incubate Rhode Island-based life science companies that will promote economic and workforce development within the state and that shall allow the state to successfully compete in the national and international life science industries.
History of Section.
P.L. 2023, ch. 79, art. 7, § 2, effective September 1, 2023.
Terms Used In Rhode Island General Laws 23-99-2
- 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.
- Hub: means the Rhode Island life science hub established by § 23-99-4. See Rhode Island General Laws 23-99-3
- 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
- State: means the state of Rhode Island. See Rhode Island General Laws 23-99-3