Bill > H7226

This bill expands Rhode Island Housing's authority to create and update its Qualified Allocation Plan (QAP), which is a set of rules used to decide how federal Low-Income Housing Tax Credits are distributed. The QAP is crucial for incentivizing the development of affordable housing. The bill specifically directs Rhode Island Housing to prioritize scoring criteria that lead to the most cost-effective production of affordable housing and the greatest number of total income-restricted units. It also mandates a reduction in the scoring weight given to criteria that are not directly related to the actual production of housing, ensuring that the focus remains on building more affordable homes. This change aims to make the process of developing affordable housing more efficient and productive.

Housing and Urban Affairs

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