WPRO Newsroom and the Associated Press
PROVIDENCE, R.I. (AP) – A Rhode Island House member is calling for financial transparency from private companies that seek taxpayer assistance.
Democratic Rep. Charlene Lima announced Tuesday that she’ll introduce legislation requiring such private entities to waive financial confidentiality. She says the law would apply to PBC Associates LLC, the corporate name for the owners of the Pawtucket Red Sox.
Lima says they would need to provide details about the sources of their funding and about any revenue generated from their projects.
The owners of the Triple-A franchise are seeking approximately $120 million from taxpayers over 30 years to lease the ballpark they’re hoping to build on state-owned land along the Providence River.
Lima says her legislation would apply to the stadium proposal and future projects involving taxpayer dollars.
