Bill
HB 6214
Overview: HB 6214 - AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND HOUSING RESOURCES ACT OF 1998Status: 06/04/2025 Committee recommended measure be held for furthe
Overview: HB 6214 - AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND HOUSING RESOURCES ACT OF 1998
Status: 06/04/2025 Committee recommended measure be held for further study
Introduced: January 23, 2025
Purpose and Intent: The bill aims to update and expand the Rhode Island Housing Resources Act of 1998 to address the state's ongoing affordable housing challenges. The goal is to provide more tools and funding to increase the supply of affordable housing units.
Key Provisions:
- Increases the state's real estate conveyance tax by 0.25% to generate additional revenue for affordable housing programs
- Establishes a new state affordable housing tax credit program to incentivize private investment
- Expands the allowable uses of the state's housing resources trust fund to include rental assistance and homelessness prevention
- Requires municipalities to zone for higher-density residential development near transit hubs
Affected Parties and Impacts:
- Homebuyers and sellers will pay a slightly higher real estate transfer tax
- Developers and investors may benefit from the new tax credit program
- Low-income residents and those at risk of homelessness could gain increased access to affordable housing and rental assistance
Procedural and Timeline Considerations:
- The bill is currently being held for further study by the committee
- If passed, the new affordable housing programs and funding sources would be implemented over the next few years
Compiled from official sources — confirm details with the bill’s official record.
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