Establishes a state-funded rental subsidy program to provide project-based rental assistance for eligible households.

The bill establishes a state-funded rental subsidy program to provide project-based rental assistance to eligible households. The program aims to help Rhode Islanders with the lowest incomes exit homelessness and stay stably housed. It authorizes an initial capitalization of twenty-five million dollars ($25,000,000) and appropriates funds from the state general fund beginning July 1, 2026. The program ensures that the tenant portion of rent does not exceed thirty percent (30%) of gross household income, less applicable utility allowances.

Establishes a state-funded rental subsidy program to provide project-based rental assistance for eligible households.

The bill establishes a state-funded rental subsidy program to provide project-based rental assistance to eligible households. The program aims to help Rhode Islanders with the lowest incomes exit homelessness and stay stably housed. It authorizes an initial capitalization of twenty-five million dollars ($25,000,000) and appropriates funds from the state general fund beginning July 1, 2026. The program ensures that the tenant portion of rent does not exceed thirty percent (30%) of gross household income, less applicable utility allowances.