The proposed bill, titled the State-Local Infrastructure Partnership Act of 2023, aims to establish a framework for providing grants to eligible entities for infrastructure projects. It outlines a structured grant process that includes requirements for a percentage of matching funds from the applicants, ensuring that local governments contribute to the funding of their projects. The bill also emphasizes the importance of oversight to prevent cost overruns and misappropriation of funds, setting specific limits on the amount of grants that can be awarded.

Additionally, the legislation includes provisions for appropriating funds and allocating resources specifically to cities and towns, thereby enhancing local infrastructure development. The bill is designed to take effect immediately upon passage, signaling a prompt response to the infrastructure needs of local communities. Overall, the act seeks to foster collaboration between state and local governments in addressing infrastructure challenges.