Submits the state's 2026 capital development program requesting the issuance of general obligation bonds totaling two hundred seventeen million dollars ($217,000,000) for approval of the electorate at the general election to be held in November 2026.

Rhode Island 2026 Capital Development Bond Bill

This bill would ask Rhode Island voters to decide whether the state should borrow $217 million through general obligation bonds to fund capital development projects. Rather than the legislature approving this spending on its own, the bill would place the question on the November 2026 ballot, giving everyday Rhode Islanders a direct vote on whether to authorize the borrowing. General obligation bonds are essentially a form of government borrowing that is backed by the state's full financial commitment to repay the debt, typically through tax revenues over time.

The $217 million would be directed toward the state's capital development program, which generally covers large, long-term investments such as construction, renovation, or improvement of public buildings, infrastructure, and facilities. The specific breakdown of how funds would be allocated across different projects would be detailed within the full bill. These types of investments are typically spread across multiple years and are intended to address significant infrastructure needs that are too large to cover through the regular annual budget.

This bill affects all Rhode Island residents, since the bonds would be repaid using state funds — meaning taxpayers would ultimately be responsible for the debt and interest over time. However, residents would also directly benefit from any public improvements funded by the program. The final decision rests with voters, who will have the opportunity to approve or reject the borrowing at the general election in November 2026. Currently, the bill has been introduced and referred to the Senate Finance Committee for review.