(a)  The commerce corporation is designated as the public corporation to administer the national security infrastructure support fund and may receive annual funding from appropriations made for that purpose. The funds shall be separately identified with corresponding revenues and expenses within the financial statements of the commerce corporation. No charges or fees for the operating expenses of the fund, such as legal fees or appraisals related to a specific transaction, shall be allocated from the fund to the commerce corporation.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Rhode Island General Laws 30-32-4

  • 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.
  • national security infrastructure: means the land, buildings, equipment or other forms of infrastructure that are principally and predominantly used to support and advance the national security of the United States. See Rhode Island General Laws 30-32-3

(b)  Within the national security infrastructure support fund, two (2) distinct grant programs shall be established to carry out the legislative intent of the fund. They shall be known as the:

(1)  Military facility protection program (“MFPP”), and

(2)  The defense economy community reinvestment program (“DECRP”).

History of Section.
P.L. 2005, ch. 360, § 1; P.L. 2005, ch. 383, § 1; P.L. 2014, ch. 504, § 1; P.L. 2014, ch. 536, § 1.