RI S2681

Establishes a state-funded rental subsidy program administered by the Rhode Island Executive Office of Housing, capitalized with $25 million from the general fund beginning July 1, 2026

Provides project-based rental assistance to permanent housing projects serving households experiencing or at risk of homelessness who are extremely low, very low, or low-income, or have long-term disabilities requiring supportive services

Caps tenant rent payments at 30% of gross household income minus utility allowances, with subsidies tied to actual household income rather than area median income thresholds

Prioritizes households referred through the Rhode Island Continuum of Care for permanent housing and those identified under the state's Olmstead Plan

Allows up to 10% of funds for tenant-based rental assistance for populations facing the greatest housing barriers who cannot be served by project-based assistance