§ 42-64-7.5 - Transfer of functions from the department of economic development.
SECTION 42-64-7.5
§ 42-64-7.5 Transfer of functions from thedepartment of economic development. – (a) All functions formerly administered by the department of economicdevelopment are hereby transferred to the Rhode Island economic developmentcorporation.
(b) In addition to any of its other powers andresponsibilities, the Rhode Island economic development corporation isauthorized and empowered to accept any grants made available by the UnitedStates government or any agency of the United States government, and thecorporation, with the approval of the governor, is authorized and empowered toperform any acts and enter into all necessary contracts and agreements with theUnited States or any agency of the United States as may be necessary in anymanner and degree that shall be deemed to be in the best interests of thestate. The proceeds of any grants received shall be paid to the generaltreasurer of the state and deposited in a separate fund to be used solely forthe purposes of the grant or grants.