§ 42-64-13.2. Renewable energy investment coordination.
(a) Intent. To develop an integrated organizational structure to secure for Rhode Island and its people the full benefits of cost-effective renewable energy development from diverse sources.
(b) Definitions. For purposes of this section, the following words and terms shall have the meanings set forth in § 42-64-3 unless this section provides a different meaning. Within this section, the following words and terms shall have the following meanings:
(1) “Corporation” means the Rhode Island commerce corporation.
(2) “Municipality” means any city or town, or other political subdivision of the state.
(3) “Office” means the office of energy resources established by chapter 140 of this title.
(c) Renewable energy development fund. The corporation shall, in the furtherance of its responsibilities to promote and encourage economic development, establish and administer a renewable energy development fund as provided for in § 39-26-7, may exercise the powers set forth in this chapter, as necessary or convenient to accomplish this purpose, and shall provide such administrative support as may be needed for the coordinated administration of the renewable energy standard as provided for in chapter 39-26 and the renewable energy program established by § 39-2-1.2. The corporation may upon the request of any person undertaking a renewable energy facility project, grant project status to the project, and a renewable energy facility project, which is given project status by the corporation, shall be deemed an energy project of the corporation.
(d) Duties. The corporation shall, with regards to renewable energy project investment:
(1) Establish by rule, in consultation with the office, standards for financing renewable energy projects from diverse sources.
(2) Enter into agreements, consistent with this chapter and renewable energy investment plans adopted by the office, to provide support to renewable energy projects that meet applicable standards established by the corporation. Said agreements may include contracts with municipalities and public corporations.
(e) Conduct of activities.
(1) To the extent reasonable and practical, the conduct of activities under the provisions of this chapter shall be open and inclusive; the director shall seek, in addressing the purposes of this chapter, to involve the research and analytic capacities of institutions of higher education within the state, industry, advocacy groups, and regional entities, and shall seek input from stakeholders including, but not limited to, residential and commercial energy users.
(2) [Deleted by P.L. 2015, ch. 141, art. 14, § 11].
(f) Reporting. On March 1, of each year after the effective date of this chapter, the corporation shall submit to the governor, the president of the senate, the speaker of the house of representatives, and the secretary of state, a financial and performance report. These reports shall be posted electronically on the general assembly and the secretary of state’s websites as prescribed in § 42-20-8.2. The reports shall set forth:
(1) The corporation’s receipts and expenditures in each of the renewable energy program funds administered in accordance with this section.
(2) A listing of all private consultants engaged by the corporation on a contract basis and a statement of the total amount paid to each private consultant from the two (2) renewable energy funds administered in accordance with this chapter; a listing of any staff supported by these funds, and a summary of any clerical, administrative or technical support received; and
(3) A summary of performance during the prior year including accomplishments and shortcomings; project investments, the cost-effectiveness of renewable energy investments by the corporation; and recommendations for improvement.
History of Section.P.L. 2004, ch. 199, § 2; P.L. 2004, ch. 205, § 2; P.L. 2006, ch. 236, § 10; P.L. 2006, ch. 237, § 10; P.L. 2008, ch. 228, § 1; P.L. 2008, ch. 422, § 1; P.L. 2012, ch. 241, art. 4, § 16; P.L. 2013, ch. 243, § 3; P.L. 2013, ch. 490, § 3; P.L. 2015, ch. 141, art. 14, § 11.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-64 - Rhode Island Commerce Corporation
Section 42-64-1. - Short title.
Section 42-64-1.1. - Change of name.
Section 42-64-2. - Legislative findings.
Section 42-64-3. - Definitions.
Section 42-64-6. - General powers.
Section 42-64-7. - Additional general powers.
Section 42-64-7.1. - Subsidiaries.
Section 42-64-7.2. - Amendment of the articles of incorporation of a subsidiary public corporation.
Section 42-64-7.3. - Voluntary dissolution of a subsidiary public corporation.
Section 42-64-7.4. - Water supply facilities.
Section 42-64-7.5. - Acceptance of federal grants.
Section 42-64-7.7. - Grant of powers to the corporation.
Section 42-64-7.9. - Orders as to pretreatment of sewage.
Section 42-64-7.11. - Venture capital forum program.
Section 42-64-7.12. - Transfer of functions to the Quonset Development Corporation.
Section 42-64-7.13. - National security infrastructure support fund.
Section 42-64-8. - Directors, officers, and employees.
Section 42-64-8.1. - Appropriation and expenses.
Section 42-64-8.2. - Role and responsibilities of board members.
Section 42-64-8.3. - Transparency requirements established.
Section 42-64-9. - Condemnation power.
Section 42-64-9.1. - Inspection powers.
Section 42-64-9.2. - Civil penalties.
Section 42-64-9.3. - Criminal penalties.
Section 42-64-9.4. - Procedures for enforcement.
Section 42-64-9.5. - Hearings.
Section 42-64-9.6. - Notice of decisions.
Section 42-64-9.7. - Notice of hearing on orders.
Section 42-64-9.8. - Procedure for hearings on orders.
Section 42-64-9.9. - Public access to information.
Section 42-64-9.10. - Rules and regulations — Notice of rule review.
Section 42-64-10. - Findings of the corporation.
Section 42-64-11. - Disposition of projects.
Section 42-64-12. - Community advisory committees.
Section 42-64-13. - Relations with municipalities.
Section 42-64-13.1. - Assistance to urban communities for economic revitalization.
Section 42-64-13.2. - Renewable energy investment coordination.
Section 42-64-14. - Relations with state agencies.
Section 42-64-15. - Bonds and notes of the corporation.
Section 42-64-16. - Short-term notes.
Section 42-64-17. - Security for bonds or notes.
Section 42-64-18. - Reserve funds and appropriations.
Section 42-64-19. - Trust funds.
Section 42-64-20. - Exemption from taxation.
Section 42-64-20.1. - Procedure.
Section 42-64-21. - Notes and bonds as legal investments.
Section 42-64-22. - Agreement of the state.
Section 42-64-23. - Credit of state.
Section 42-64-24. - State’s right to require redemption of bonds.
Section 42-64-25. - Remedies of bondholders and note-holders.
Section 42-64-26. - Authorization to accept appropriated moneys.
Section 42-64-27. - Assistance by state officers, departments, boards and commission.
Section 42-64-28. - Annual financial reports and performance report.
Section 42-64-29. - Inventory of development sites.
Section 42-64-30. - Inconsistent provisions.
Section 42-64-31. - Other statutes.
Section 42-64-31.1. - Rules and regulations.
Section 42-64-32. - Construction.
Section 42-64-33. - Severability.
Section 42-64-34. - Appointment of small business advocate.
Section 42-64-34.1. - Cooperation required.
Section 42-64-35. - Government contract procurement assistance.
Section 42-64-36. - Program accountability.
Section 42-64-37. - Loan and loan guarantee programs.
Section 42-64-38. - Audit of the corporation.
Section 42-64-39. - Business development center.
Section 42-64-40. - Court-approved settlements.
Section 42-64-41. - Report regarding small business lending.