Section 42-128-2.1 - Housing production fund(a) There is hereby established a restricted receipt account within the general fund of the state, to be known as the housing production fund. Funds from this account shall be administered by the Rhode Island housing and mortgage finance corporation, subject to program and reporting guidelines adopted by the coordinating committee of the Rhode Island housing resources commission for housing production initiatives, including: (1) Financial assistance by loan, grant, or otherwise, for the planning, production, or preservation of affordable housing in Rhode Island for households earning not more than eighty percent (80%) of area median income; and(2) Technical and financial assistance for cities and towns to support increased local housing production, including by reducing regulatory barriers and through the housing incentives for municipalities program.(b) In administering the housing production fund, the Rhode Island housing and mortgage finance corporation shall give priority to households either exiting homelessness or earning not more than thirty percent (30%) of area median income.R.I. Gen. Laws § 42-128-2.1
Added by 2021 Pub. Laws, ch. 162,§ 14-3, eff. 7/6/2021.