This bill proposes to submit a proposition to the voters of Rhode Island during the general election in November 2026, seeking approval for the issuance of general obligation bonds totaling $217 million for the state's 2026 capital development program. The funds will be allocated to various projects, including $105 million for the construction of the Integrated Health Building at the University of Rhode Island, $50 million for renovations at the Adams Library at Rhode Island College, $60 million for a Workforce Innovation Center at the Community College of Rhode Island, and $2 million for the Office of Post Secondary Advanced Composites Program.

The bill outlines the process for the issuance of these bonds, granting authority to the general treasurer and the governor to manage the bond issuance and refunding. It specifies that the bonds will be general obligations of the state and exempt from taxation, with proceeds deposited into a designated capital development bond fund for the approved projects. Additionally, the bill allows for the acceptance of federal assistance and private funds to support the projects. Sections 1, 2, 3, 11, and 12 of this act would take effect upon passage, while the remaining sections would take effect only after the state board of elections certifies that a majority of the qualified electors voting on the proposition have indicated their approval of the projects.