According to an Associated Press report, Representative Karen MacBeth, D-Rhode Island, introduced a bill on Thursday that would cause the state government to default on the loan and thus prevent the Rhode Island Commerce Corp. from making any further payments toward it. Governor Lincoln Chafee argued that a default would harm the state's financial reputation and cause an increase in borrowing costs.
This isn't the first time such a bill has been introduced; the AP also reports that an attempt to default on the 38 Studios loan failed last year. The state made a payment of $2.5 million in 2013, but the next payment is substantially larger: $12.5 million. And thus, the legacy of 38 Studios continues to be defined by messy financial arguments.