Bill > S0711

This bill restructures the Rhode Island Housing and Conservation Trust Fund by expanding its board from 9 to 15 members, with 11 public members representing diverse backgrounds including environmental, conservation, housing, land trust, planning, and community development interests. The bill updates definitions related to agricultural land, eligible activities, and low- or moderate-income households, and modifies the fund's allocation system to dedicate 35% of annual funds each to housing and conservation projects, with the remaining 30% flexible and prioritizing projects that combine both goals. The bill also introduces more detailed requirements for board member appointments, including demographic diversity, term limits, and mandatory training. Additionally, it changes the fund's administrative structure by having it distributed through the Rhode Island Infrastructure Bank and requires more comprehensive annual reporting. The changes aim to enhance the board's effectiveness in supporting affordable housing and land conservation efforts, with a focus on long-term affordability and preservation of important natural and community resources.

Housing and Urban Affairs

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