The R.I. Economic Development Corporation and the quasi-public Slater Technology Fund would both see their funding drastically reduced under the 2009-2010 state budget approved on Wednesday by the House Finance Committee.

Under the House budget plan, the agency’s general budget would be slashed by 42 percent compared with the governor’s recommendation. The House would give the EDC $3.5 million, while Gov. Donald L. Carcieri’s had proposed slightly more than $6 million.