The House approved an additional $31 million to support housing development, including $4 million for transit-oriented development and $4.3 million to support infrastructure needed for housing development, such as road and utility connections.
The Rhode Island House of Representatives approved a $14 billion budget Friday that legislative leaders say will help address the state’s housing crisis, support business development and make education funding more equitable while limiting the use of one-time revenue to one-time expenditures.
“This budget also strengthens our efforts to provide educational opportunities in K-12 and higher education and supports businesses, working Rhode Islanders, retirees and those struggling to meet their families’ basic needs,” Shekarchi, a Democrat, said in a statement following the vote. The House plan includes a low-income housing tax credit program. The program would provide a tax incentive for developers to expand subsidized housing options for low-income households.
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