PROVIDENCE, R.I. (AP) — A bill designed to protect federal funding for Rhode Island's economic development agency is heading to a final vote in the General Assembly.
The bill is designed to clarify a law passed last year that gave the beleaguered Economic Development Corp. a new name: the Rhode Island Commerce Corp.
But the name-change could have inadvertently jeopardized millions in federal funds that were going to the EDC unless lawmakers clarified that the agency lives on as the Commerce Corp.
Legislation to do just that was endorsed Thursday by the House Finance Committee. The full House could take it up next week.
The Senate has already approved the bill.
The EDC was criticized for the state's failed $75 million investment in former Red Sox pitcher Curt Schilling's video game company, 38 Studios.
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