§ 42-113-5 — § 42-113-5. Creation of Rhode Island housing and conservation trust fund.

§ 42-113-5. Creation of Rhode Island housing and conservation trust fund.

(a) There is created a special account distributed by the Rhode Island infrastructure bank and administered by the housing and conservation board to be known as the "Rhode Island housing and conservation trust fund.� The fund shall be administered by the board and expenditures from the fund shall be made only to implement and effectuate the policies and purposes of this chapter. The board is authorized to accept any federal funding, private grant, devise, bequest, donation, gift, loan, or assignment of money, bonds, or other valuable securities for deposit in and credit of the Rhode Island housing and conservation trust fund.

(b) Unexpended balances and any earnings shall not revert to the general fund but shall remain in the designated account created by the Rhode Island infrastructure bank for use in accord with the purposes of this chapter.

(c) The members of the board shall be appointed upon December 31, 2026.

Legislative History

P.L. 1990, ch. 347, § 1; P.L. 1993, ch. 422, § 17; P.L. 1994, ch. 14, § 17; P.L. 1994, ch. 80, § 1; P.L. 2025, ch. 71, § 1, effective June 17, 2025; P.L. 2025, ch. 72, § 1, effective June 17, 2025.