S2061

	2018 -- S 2061
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	LC003539
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	STATE OF RHODE ISLAND
	IN GENERAL ASSEMBLY
	JANUARY SESSION, A.D. 2018
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	A N A C T
	RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND HOUSING
	RESOURCES ACT OF 1998

	Introduced By: Senators Ciccone, Quezada, Metts, Lombardi, and Miller
	Date Introduced: January 18, 2018
	Referred To: Senate Finance
	It is enacted by the General Assembly as follows:
1	SECTION 1. Section 42-128-10 of the General Laws in Chapter 42-128 entitled "Rhode
2	Island Housing Resources Act of 1998" is hereby amended to read as follows:
3	42-128-10. Appropriations.
4	(a) The general assembly shall annually appropriate any sums it may deem necessary to
5	enable the commission to carry out its assigned purposes; and the state controller is authorized
6	and directed to draw his or her orders upon the general treasurer for the payment of any sums
7	appropriated or so much as may be from time to time required, upon receipt by him or her of
8	proper vouchers approved by the chairperson or the executive director.
9	(b) Pursuant to subsection (a) of this section, for fiscal year 2018,and for each fiscal year
10	thereafter, the general assembly shall appropriate a minimum of five millions dollars
11	($5,000,000) in capital financing for affordable housing as defined in § 42-128-8.1; provided, that
12	such affordable housing maintains a seven hundred dollar ($700) a month price ceiling.
13	SECTION 2. This act shall take effect upon passage.
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	LC003539
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	EXPLANATION
	BY THE LEGISLATIVE COUNCIL
	OF
	A N A C T
	RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND HOUSING
	RESOURCES ACT OF 1998
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1	This act would require the general assembly to appropriate a minimum of five million
2	dollars ($5,000,000) in capital financing to Rhode Island Housing & Mortgage Finance
3	Corporation (RIHMFC) for the development of affordable housing for the homeless.
4	This act would take effect upon passage.
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	LC003539
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