This bill aims to enhance financial support for public library construction and capital improvement projects in Rhode Island by increasing the reimbursement caps established in the state's 2018 Regulations for Library Construction Reimbursement. The new provisions will allow for a fifty percent reimbursement of eligible construction costs up to $370.20 per square foot for new construction and $308.50 per square foot for renovations. Additionally, site costs will be reimbursable up to the lesser of $1,234,000 or 10% of the total project cost, and the total reimbursement for any project will not exceed $12,340,000.

The bill specifies that these increased caps will apply retroactively to eligible project costs incurred from June 30, 2025, and will automatically increase by 3% annually starting July 1, 2027. It also states that all reimbursement agreements executed by the Office of Library and Information Services will be deemed amended by operation of law to incorporate the increased caps for eligible project costs incurred during the effective period. The legislation will take effect upon passage.

Statutes affected:
8168: 29-6-6