The bill amends the "Quasi-Public Corporations Accountability and Transparency Act" by introducing a new section, 42-155-11, which establishes limitations on the transfer or reallocation of funds collected by certain quasi-public entities in Rhode Island. The new legal language emphasizes that these quasi-public corporations and agencies, which perform essential government functions and services, must maintain transparency in their financial decisions and budgets. It specifies that funds collected by these entities should remain with them for their designated purposes and cannot be transferred to the state's general fund or other state agencies at the request of the governor or the general assembly.

Additionally, the bill outlines that the assets and property of these quasi-public entities must not benefit any individual or corporation outside of their intended governmental functions. The provisions apply to a list of specified quasi-public entities, including the Capital Center Commission, Convention Center Authority, and Rhode Island Airport Corporation, among others. The act is set to take effect upon passage, reinforcing the accountability and transparency of quasi-public corporations in managing public resources.