The bill amends existing laws regarding the management and disposal of public property, specifically focusing on the leasing of state-owned facilities. It authorizes the Department of Environmental Management to enter into leases for terms of up to forty (40) years for specific locations, including the Port of Galilee in Narragansett, State Pier #9 in Newport, Chase Marina in Tiverton, and all other ports and marine facilities owned and operated by the department. The bill also includes provisions for leases related to the commercial fishing industry and allows for the establishment of terms and conditions as determined by the director.

Additionally, the bill mandates that lessees report semi-annually on the income generated from leased properties, with these reports submitted to the state properties commission and shared with the fiscal staffs of both the House and Senate, as well as the governor. The bill aims to facilitate private investment in public recreation and natural resource-based industries while ensuring transparency and accountability in the leasing process. It is set to take effect upon passage.

Statutes affected:
7673: 37-7-9, 46-5-10