PROVIDENCE – The House Finance Committee has scheduled its first hearing on on Rhode Island’s recently approved global Medicaid waiver, which Gov. Donald L. Carcieri has said will give the state unprecedented flexibility to tailor Medicaid-funded programs to suit local residents’ needs, in exchange for capping spending at about $12 billion over five years.

The Centers for Medicare & Medicaid Services approved the deal on Dec. 19, and the General Assembly has 30 days to take any action on it; otherwise it will become effective as written.

The hearing will be this Friday, Jan. 9, at 10 a.m. in Room 35 in the basement of the Statehouse. Public testimony will be taken. The committee has also posted a second hearing date, Monday, Jan. 12, at 1 p.m., in case more time for testimony is necessary.

The General Assembly’s 2009 legislative session begins Tuesday, Jan. 6.