The resolution proposes an appropriation of $1,000,000 from the Rhode Island treasury for the purchase, cancellation, and forgiveness of medical debt. It aims to address the significant burden that medical debt places on Rhode Islanders, affecting approximately 5.2% of the population. This debt often arises unexpectedly, impacting financial security and leading to adverse consequences such as reduced spending on essential needs. The resolution highlights the disproportionate impact of medical debt on vulnerable populations, including veterans, older adults, individuals with disabilities, and minorities.

The funding is intended to support the Rhode Island Medical Relief Program, which was established to alleviate medical debt by allowing it to be purchased at a fraction of its value. By continuing to finance this program, the resolution seeks to help eliminate medical debt in the state, thereby improving the financial well-being of affected residents. The state controller is authorized to manage the disbursement of these funds as needed, based on properly authenticated vouchers.