PROVIDENCE, RI – General Treasurer Seth Magaziner will testify this week before the House and Senate Finance Committees in support of his proposal to create a Rhode Island Infrastructure Bank (RIIB). The initiative, which will put hundreds of Rhode Islanders back to work and make the state more economically competitive, is a part of the Governor's FY2016 Jobs Budget (Article 24).
The RIIB will serve as a centralized hub for existing and new green infrastructure financing initiatives, and focus on energy efficiency and renewable energy projects that will save residents, businesses and municipalities money on their energy bills. The RIIB also will expand eligibility for storm water remediation lending to private entities and establish a revolving loan fund for Brownfields redevelopment.
The Senate Finance Committee is scheduled to meet tomorrow, Tuesday, April 28 at 2:30 p.m. in Room 313 on the third floor of the State House. The House Finance Committee is scheduled to meet tomorrow, Tuesday, April 28 at the rise of the House (approximately 4:30 p.m.) in Room 35 on the first floor of the State House.