The bill proposes the repeal of legislation establishing the Capital Center Commission, which is a special development district commission for downtown Providence. This repeal removes the commission's defined structure, powers, and responsibilities, including its authority to sue, acquire property, and levy special assessments for improvements within the district. The act will take effect upon passage and enactment of an ordinance by the city of Providence that similarly repeals local legislation establishing the Capital Center Commission; if such an ordinance has already been enacted, the act will take effect immediately.

The bill clarifies that the obligations of the Commission will not constitute a debt or liability of the State or any political subdivision, but will be payable solely from the revenues or assets of the Commission. It also includes a severability clause to ensure that if any part of the bill is found unconstitutional or invalid, the remaining provisions will still be effective.