The bill amends Section 45-53-3 of the General Laws in Chapter 45-53 entitled "Low and Moderate Income Housing," with an effective date of January 1, 2024. It revises the definitions related to low and moderate-income housing, including the addition of new language that expands the definition of "low- or moderate-income housing" to include rental property secured with a federal government rental assistance voucher. Furthermore, it specifies that any housing unit qualifying as low- or moderate-income housing under this subsection and under § 42-128-8.1, as well as any rental property secured with a federal government rental assistance voucher that does not meet other requirements to qualify as low- or moderate-income housing, shall be counted as one whole unit towards the municipality's requirement for such housing. This is contingent on the municipality confirming with the issuing authority that the voucher is in good standing and active.

The bill also outlines that the new definition of "low- or moderate-income housing" will apply to housing secured by a federal government voucher or subsidy, but only if the voucher or subsidy is applied prospectively. Additionally, the bill includes various other insertions and deletions to update the language and provisions related to adjustments, affordable housing plans, comprehensive plans, and other related terms. The act is set to take effect on July 1, 2024.

Statutes affected:
8336  as amended: 45-53-3
8336: 45-53-3