RI House Approves 38 Studios Settlement Bill

The Rhode Island House has approved a bill that will make it easier for the state to settle its lawsuit with Curt Schilling, other executives from 38 Studios, and others involved in the deal that could end up costing the state upwards of $100 – $110 million in the long-term. The RI Senate approved its own version of the bill earlier this month. With both houses of the State Assembly passing the bill, there's no doubt that Governor Lincoln Chafee will sign it into law the minute it crosses his desk (his administration pushed the legislature to pass the bill as quickly as possible).

But even as lawmakers passed the bill 53-16, some insisted that the state should not pay back its debt related to the $75 million loan; Rep. Charlene Lima (D-Cranston) suggested to fellow lawmakers that debt payments should be limited to whatever can be recouped from the 38 Studios lawsuit, and that tax payers should not be made to pay for the state's bad decision. She called the whole deal a "fiasco" and said that "taxpayers should not pay."

Last year, lawmakers approved a $2.5 million debt payment, but did so with much grumbling and debate about whether the state should simply default on the loan. A similar fight and a larger sum of $12.5 million for the next debt payment is expected in this legislative session.

Source: TurnTo10 News

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