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SB 122

AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- HOUSING LAND BANK PROGRAM

2025 Regular Session Introduced by Jake Bissaillon and 8 co-sponsors

Rhode Island establishes a state Housing Land Bank Program to acquire and hold land for affordable housing development, reducing development costs for nonprofit and private developers.

06/27/2025 Signed by Governor
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Bill Summary · SB 122

Legislative bill overview

SB 122 establishes a Housing Land Bank Program in Rhode Island designed to acquire, hold, and manage land for affordable housing development. The program authorizes the state to purchase properties, hold them in a land bank, and make them available to developers and nonprofits for creating affordable housing units at below-market rates.

Why is this important

Rhode Island faces a significant affordable housing shortage, with rising property values pricing out low- and moderate-income residents. By creating a state-held land bank, the program reduces acquisition costs for developers—typically the largest expense in housing projects—making affordable housing projects economically viable in expensive markets. This addresses both immediate housing needs and long-term workforce retention in the state.

Potential points of contention

  • Public fund allocation: The program requires state resources to purchase and maintain land inventory; critics may question whether this is the best use of limited public funds versus direct subsidies or tax incentives
  • Local control concerns: Communities may resist state acquisition of land within their jurisdictions, particularly regarding what developments are built and who benefits
  • Implementation timeline and effectiveness: Land bank programs require significant administrative infrastructure; questions remain about staffing, management efficiency, and how quickly this translates to actual affordable units being built

Compiled from official sources — confirm details with the bill’s official record.

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