Rhode Island § 42-55-24.1 § 42-55-24.1. Allocation of tax credits.

Rhode Island Statutes

§ 42-55-24.1 — § 42-55-24.1. Allocation of tax credits.

Rhode Island § 42-55-24.1

Title 42State Affairs and Government

Ch. 42-55Rhode Island Housing and Mortgage Finance Corporation

This text of Rhode Island § 42-55-24.1 (§ 42-55-24.1. Allocation of tax credits.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 42-55-24.1 (2026).

Text

§ 42-55-24.1. Allocation of tax credits.
The corporation shall be the sole and exclusive agent for the allocation of all federal
            tax credits for low-income housing under 26 U.S.C. § 42. The corporation shall have all of the powers necessary to effectuate those allocations,
            including without limitation, the power to adopt rules, regulations, and policies
            regarding those allocations. Notwithstanding the foregoing and any other provision
            of law, effective January 1, 2026, the qualified allocation plan required by 26 U.S.C. § 42 shall be developed by the executive office of housing in consultation with the corporation.
         

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§ 42-55-24.1. Allocation of tax credits.

The corporation shall be the sole and exclusive agent for the allocation of all federal tax credits for low-income housing under 26 U.S.C. § 42. The corporation shall have all of the powers necessary to effectuate those allocations, including without limitation, the power to adopt rules, regulations, and policies regarding those allocations. Notwithstanding the foregoing and any other provision of law, effective January 1, 2026, the qualified allocation plan required by 26 U.S.C. § 42 shall be developed by the executive office of housing in consultation with the corporation.