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. By disbanding the Capital Center Commission, the bill indicates a shift in the state's approach to urban development and the management of special districts.

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. The act will take effect upon the passage and enactment of an ordinance by the city of Providence that similarly repeals local legislation establishing the Capital Center Commission; provided, however, if that already has occurred, this act would take effect upon passage.