JOINT RESOLUTION TO APPROVE AND PUBLISH AND SUBMIT TO THE ELECTORS A PROPOSITION OF AMENDMENT TO THE CONSTITUTION -- OF THE LEGISLATIVE POWER (Proposes a state constitutional amendment that no department or other entity created by the state would have poser to incur debt in excess of $ 50,000, without express approval from the legislature and voters.)

Proposed Constitutional Amendment: State Debt Approval Requirement

This bill proposes an amendment to Rhode Island's state constitution that would place strict limits on the ability of state departments and government-created entities to take on debt. Specifically, no state agency, department, or similar government body could borrow or incur debt of more than $50,000 unless it first receives explicit approval from both the state legislature and Rhode Island voters. To become part of the constitution, the amendment itself would also need to be approved by voters in a general election.

This proposal would affect all branches and agencies of Rhode Island's state government, as well as any entities the state has created, such as quasi-public agencies and authorities. Currently, some of these bodies have the ability to borrow money or take on financial obligations with limited direct oversight from the full legislature or the public. Under this amendment, any significant borrowing would require going through a more formal and transparent approval process involving elected representatives and a public vote.

The practical impact would be to give Rhode Island citizens a direct say in how their state government takes on financial obligations. Supporters of such measures typically argue it protects taxpayers and increases government accountability, while critics often point out it could slow down necessary government functions or financing. The bill has been referred to the Senate Finance Committee, where it will be reviewed before any further action is taken.