2019 -- S 0275

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LC000461

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2019

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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, and Lombardi

     Date Introduced: February 13, 2019

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

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

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

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     42-128-10. Appropriations.

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

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

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

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

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proper vouchers approved by the chairperson or the executive director.

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     (b) For fiscal year 2021, the general assembly shall place upon the ballot for the election

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scheduled for November 3, 2020, a referendum for the issuance of general obligation bonds in the

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

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

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ceiling.

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     (c) For the fiscal year 2022, and for each fiscal year thereafter, the general assembly shall

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

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

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hundred dollar ($700) a month price ceiling.

 

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     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

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dollars ($5,000,000) in capital financing for fiscal year 2021 on the ballot for the November 3,

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2020, election for Rhode Island Housing & Mortgage Finance Corporation (RIHMFC) for the

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development of affordable housing for the homeless and to appropriate for fiscal year 2022 and

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

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     This act would take effect upon passage.

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