General Assembly to take up EDC reform as session ends

Rhode Island lawmakers are working to wrap up their annual session with final votes on a proposal to retool the economic development agency responsible for the state's failed gamble on 38 Studios.

The House is poised to vote Wednesday on legislation to rename the Economic Development Corp. the Rhode Island Commerce Corp. The agency would be led by a secretary of commerce picked by the governor.

The bill would also require the agency to create a mission statement and code of ethics.

Lawmakers hope to adjourn later Wednesday. Top legislative leaders had said the economy was the year's priority.

The EDC was criticized for the failure of a $75 million loan guarantee given to 38 Studios, a now bankrupt video game company started by former Red Sox pitcher Curt Schilling.