The bill proposes the repeal of legislation establishing the Capital Center Commission, which is a special development district commission for downtown Providence. By repealing this legislation, the bill effectively dissolves the Commission and eliminates its authority to engage in activities such as suing, acquiring property, and levying special assessments on property owners within the district. The act clarifies that any obligations issued by the Commission will not be considered a debt or liability of the State or any political subdivision, but will instead be payable solely from the Commission's revenues or assets. It also includes a severability clause to ensure that if any part of the chapter is found unconstitutional or invalid, the remaining provisions will still remain effective. 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.