2018 -- S 2910

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LC005740

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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, Lombardo, Crowley, Quezada, and Metts

     Date Introduced: May 17, 2018

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. Section 42-128-10 of the General Laws in Chapter 42-128 entitled "Rhode

Island Housing Resources Act of 1998" is hereby amended to read as follows:

     42-128-10. Appropriations.

     (a) The general assembly shall annually appropriate any sums it may deem necessary to

enable the commission to carry out its assigned purposes; and the state controller is authorized

and directed to draw his or her orders upon the general treasurer for the payment of any sums

appropriated or so much as may be from time to time required, upon receipt by him or her of

proper vouchers approved by the chairperson or the executive director.

     (b) For fiscal year 2019, the general assembly shall place upon the ballot for the election

scheduled for November 6, 2018, a referendum for the issuance of general obligation bonds in the

amount of five million dollars ($5,000,000) for affordable housing as defined in § 42-128-8.1;

provided, that such affordable housing maintains a seven hundred dollar ($700) a month price

ceiling.

     (c) For the fiscal year 2020, and for each fiscal year thereafter, the general assembly shall

appropriate a minimum of five million dollars ($5,000,000) in capital financing for affordable

housing as defined in § 42-128-8.1; provided, that such affordable housing maintains a seven

hundred dollar ($700) a month price ceiling.

     SECTION 2. This act shall take effect upon passage.

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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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     This act would require the general assembly to place a bond referendum of five million

dollars ($5,000,000) in capital financing for fiscal year 2019 on the ballot for the November 6,

2018 election for Rhode Island Housing & Mortgage Finance Corporation (RIHMFC) for the

development of affordable housing for the homeless and to appropriate for fiscal year 2020 and

each fiscal year thereafter a minimum of five million dollars ($5,000,000) for the same.

     This act would take effect upon passage.

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