Rhode Island H8006 allows cities and towns to tax qualifying affordable housing properties at a higher rate.

Rhode Island H8006 provides cities and towns with the authority to tax properties considered qualifying affordable housing at a rate higher than otherwise permitted. This applies to new construction, conversion of existing structures, and low- or moderate-income housing. The tax rates vary based on the type of property and its use. The bill also outlines specific requirements for contractors, including compliance with occupational safety, registered apprenticeship programs, and prevailing wage laws. Failure to comply with these standards can result in the revocation of tax treatment.

Rhode Island H8006 allows cities and towns to tax qualifying affordable housing properties at a higher rate.

Rhode Island H8006 provides cities and towns with the authority to tax properties considered qualifying affordable housing at a rate higher than otherwise permitted. This applies to new construction, conversion of existing structures, and low- or moderate-income housing. The tax rates vary based on the type of property and its use. The bill also outlines specific requirements for contractors, including compliance with occupational safety, registered apprenticeship programs, and prevailing wage laws. Failure to comply with these standards can result in the revocation of tax treatment.