Rhode Island Budget Proposals Include Creation of State LIHTC

Monday, May 8, 2023 - 9:30AM

A slate of budget proposals aimed at sparking housing development announced Friday by Rhode Island Gov. Daniel McKee includes the creation of a state low-income housing tax credit (LIHTC). Rhode Island’s state LIHTC would be capped at $30 million annually. Six of the eight states in the northeastern United States have a state LIHTC, including neighboring Connecticut and Massachusetts. The proposal also expanded State Fiscal Recovery Fund (SFRF) investments.

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