2015 -- H 5714

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LC001663

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2015

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A N   A C T

RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND HOUSING

AND MORTGAGE FINANCE CORPORATION

     Introduced By: Representatives Filippi, Hearn, Marcello, Price, and Ackerman

     Date Introduced: February 26, 2015

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 42-55 of the General Laws entitled "Rhode Island Housing and

Mortgage Finance Corporation" is hereby amended by adding thereto the following section:

     42-55-21.1. Calculation of shortage of affordable housing. – With regard to a finding

of a shortage of affordable housing as set forth in chapter 55 of title 42, and chapter 53 of title 45,

such finding shall include all housing that is affordable, as set forth in § 42-128-8.1(d)(1), as well

as houses assessed which meet the criteria contained in the foregoing section, even if such houses

are not for sale, conducted by the city or town where a housing development is proposed, in

addition to any existing housing units or housing developments that are recipients of subsidies

granted by the corporation and any houses or housing developments with deed restrictions.

     SECTION 2. This act shall take effect upon passage.

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LC001663

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND HOUSING

AND MORTGAGE FINANCE CORPORATION

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     This act would include in the definition of affordable housing houses whose assessed

value meets the criteria of affordable housing even is such houses are not for sale. In addition,

proposed housing developments which meet the criteria would be included.

     This act would take effect upon passage.

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LC001663

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