The bill amends Section 45-53-3 of the General Laws in Chapter 45-53 entitled "Low and Moderate Income Housing," effective 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 within a municipality that is secured with a federal government rental assistance voucher. Furthermore, it specifies that any housing unit which qualifies 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. The act is set to take effect on July 1, 2024. There are no deletions mentioned in the provided text.

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