2024 -- S 2555

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LC005216

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2024

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J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $20,000,000 FOR THE HOUSING DOWN PAYMENT

ASSISTANCE PROGRAM

     

     Introduced By: Senators Mack, Bissaillon, Gu, Kallman, and Valverde

     Date Introduced: March 01, 2024

     Referred To: Senate Finance

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     WHEREAS, In the enacted 2023-2024 Fiscal Year Budget, $20 million was appropriated

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as a line item for Housing Down Payment Assistance; and

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     WHEREAS, The Down Payment Assistance monies provided up to $20,000 in down

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payment assistance to eligible first-time home buyers to promote homeownership and remove

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barriers to homeownership opportunities for low- and moderate-income first-time homebuyers;

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and

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     WHEREAS, The Governor's 2024-2025 Fiscal Year proposed budget no longer funds

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this critical and essential program, leaving many Rhode Island families without the ability to

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create a brighter and more secure future for their families; now, therefore be it

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     RESOLVED, That there is hereby appropriated out of any money in the treasury not

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otherwise appropriated for the fiscal year 2024-2025, the sum of twenty million dollars

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($20,000,000) to support the Down Payment Assistance program; and the state controller is

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hereby authorized and directed to draw his orders upon the general treasurer for the payment of

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said sum, or so much thereof as may be from time to time required, upon receipt of properly

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authenticated vouchers.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $20,000,000 FOR THE HOUSING DOWN PAYMENT

ASSISTANCE PROGRAM

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     This resolution would authorize the appropriation of the sum of $20,000,000 to support

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the Down Payment Assistance program.

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