The bill amends Chapter 46-23 of the General Laws concerning the Coastal Resources Management Council (CRMC) in Rhode Island. It establishes that the legislature will negotiate on behalf of the state for all activities occurring in, on, and over state submerged land extending beyond twenty-five (25) acres. The CRMC is tasked with making recommendations to the General Assembly regarding any projects involving the lease of tidal lands of twenty-five (25) acres or more, and it may recommend an appropriate fee for such use and/or lease.

The bill specifies that large-scale filling projects and any lease of tidal lands of twenty-five (25) acres or more are subject to approval, disapproval, or conditional approval by the General Assembly through legislative action. It also imposes a maximum fee of eighty thousand dollars ($80,000) per annum for any transatlantic telephone or fiber-optic communication cable that makes landfall in the state.

Additionally, the bill clarifies that any lease or license to use tidal lands is subject to the approval of the General Assembly, ensuring compliance with public trust obligations. It states that if a lease is violated or if a fee for the lease has not been paid, the lands and rights in the land shall revert to the state, and any fees paid shall not be returned. The act takes effect upon passage.