Proposes a bond measure authorizing the State of Rhode Island to issue up to $100,000,000 in general obligation bonds, subject to voter approval, to fund coastal preparedness and resilience projects.

The Blue Wave Bond for Coastal Preparedness – Plain English Summary

This bill proposes putting a question before Rhode Island voters that would allow the state to borrow up to $100 million through the sale of government bonds. The money would be used to fund projects aimed at protecting Rhode Island's coastline and making it more resilient against threats like flooding, storms, and rising sea levels. Because this is a general obligation bond, it would be backed by the full faith and credit of the state, meaning Rhode Island taxpayers would ultimately be responsible for repaying the borrowed money over time, typically with interest.

The bill does not directly spend any money on its own — it simply asks the Rhode Island legislature to place this borrowing proposal on a future ballot, likely in 2026, so that voters can decide whether to approve it. If voters say yes, the state would then be authorized to issue the bonds and direct the funds toward coastal preparedness and resilience projects. The specific projects that would receive funding are not detailed in the bill itself, and those decisions would likely be made through a separate process if the bond is approved.

This measure would most directly affect Rhode Island residents who live, work, or own property near the coast, as well as communities and infrastructure vulnerable to coastal flooding and storm damage. More broadly, all Rhode Island taxpayers could be affected since repaying the bonds would be a state financial obligation. The bill is currently in the early stages of the legislative process, having been introduced and referred to the House Finance Committee for review.