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RI H7315
Bill
Status
1/23/2026
Primary Sponsor
Paul Santucci
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AI Summary
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Creates a rural housing development revolving fund within the Rhode Island Infrastructure Bank to provide loans for low- and moderate-income housing projects in rural areas (census areas with populations under 50,000)
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Appropriates $10 million from the $120 million state housing bond for fiscal year 2027 to capitalize the fund
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Grants the Infrastructure Bank authority to receive/disburse funds, make loan commitments, levy administrative fees, engage third-party vendors, and create loan loss reserve funds
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Encourages project labor agreements for projects over $10 million and local hiring on funded projects
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Takes effect upon passage
Legislative Description
Establishes the rural housing development revolving fund for the purpose of providing loans to support low- and moderate-income housing development projects in rural areas.
Waters And Navigation
Last Action
Introduced, referred to House Finance
1/23/2026