AN ACT RELATING TO TOWNS AND CITIES -- CITY HOUSING AUTHORITIES

This bill grants the Rhode Island Housing and Mortgage Finance Corporation (RIHMFC) the exclusive authority to manage federal funds for low-income housing projects across the state. It establishes that only the RIHMFC, its authorized partners, or related organizations may administer these specific rental subsidy allocations, effectively limiting other public housing agencies from doing so. The legislation also expands the RIHMFC's operational powers to include entering into statewide agreements and forming partnerships to carry out these housing assistance programs. By centralizing control over these funds, the bill aims to streamline how low- and moderate-income housing assistance is distributed within Rhode Island.