Includes manufactured homes on leased land under a long-term lease in excess of thirty (30) years at the time of enrollment within the classification of affordable housing.
Impact
If enacted, HB 6163 is set to have a significant impact on affordable housing availability within Rhode Island. It acknowledges the necessity of adapting housing policies to reflect the changing economic landscape, particularly the growing gap between income levels and housing prices. The bill also emphasizes the importance of removing barriers to housing development and fostering partnerships between communities and educational institutions to increase residential options.
Summary
House Bill 6163 aims to amend the Rhode Island Housing Resources Act of 1998 by including manufactured homes that are on leased land with long-term leases exceeding thirty years within the classification of affordable housing. This inclusion would widen the definition of affordable housing in the state, allowing more individuals and families to qualify for affordable housing assistance programs. The bill emphasizes the need for comprehensive housing strategies that accommodate varying demographics, including low-income families, older residents, and students.
Contention
Notable points of contention that may arise surrounding HB 6163 include debates over the implications of defining manufactured homes as affordable housing. Critics may argue that expanding the definition could lead to potential misuse of housing classifications or undermine efforts to manage housing quality and standards. Conversely, supporters are likely to emphasize the urgent need for affordable housing solutions, particularly for vulnerable populations, thereby framing the bill as a proactive measure against homelessness and housing insecurity.
Provides that only residential properties and new or rehabilitated residential affordable housing units would be subject to the tax under § 44-5-13.1 relating to taxation of low-income housing.
Provides that only residential properties and new or rehabilitated residential affordable housing units would be subject to the tax under § 44-5-13.1 relating to taxation of low-income housing.
Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $800,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.
Authorizes the department of housing to issue bonds in the amount of $50,000,000 with a maturity date not to exceed 20 years, to establish the housing production revolving fund, to promote the development of housing and ensuring more affordable housing.
Authorizes the department of housing to issue bonds in the amount of $50,000,000 with a maturity date not to exceed 20 years, to establish the housing production revolving fund, to promote the development of housing and ensuring more affordable housing.
Grants a right of first offer to qualified nonprofits for the purchase of certain multi-family residential properties at market prices, within a reasonable period of time to promote the creation and preservation of affordable rental housing.