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Rhode IslandH84032026 Regular SessionHouse

AN ACT AUTHORIZING THE TOWN OF JAMESTOWN TO FUND AFFORDABLE HOUSING PROJECTS AND TO ISSUE NOT MORE THAN $3,000,000 BONDS AND NOTES THEREFOR .

Sponsored By: Alex S. Finkelman (Democratic)

Became Law

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

New funding for Jamestown affordable housing

Subject to voter approval on November 3, 2026, Jamestown can issue up to $3 million in bonds to create affordable housing. Money can buy property or develop town-owned sites for homes that meet the state’s affordable housing rules. The town can also seek federal or state grants to help pay. Repayment starts within 5 years and ends within 30 years.

No cap on taxes to repay bonds

Jamestown must pay bond principal and interest when due. If the town does not set aside enough money, the unpaid amount is added to the annual tax levy. All taxable property in town can be taxed without a rate or dollar limit to pay the debt.

Faster financing tools for housing projects

The town can issue short-term notes, payable within 5 years, to start projects before bonds or aid arrive. With council approval, the finance director can advance town funds now and repay them later without interest. Bonds for these projects can be issued without other agency or financial town meeting approval. The finance director can invest unused funds in bank deposits or U.S. government-backed securities, and use sale premiums and earnings for costs, the program, or debt. The director can also keep bond interest tax-exempt and use federal bond programs.

Sponsors & Cosponsors

Sponsor

  • Alex S. Finkelman

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 104 • No: 0

Senate vote • 6/2/2026

THE TOWN OF JAMESTOWN -- BONDS In Concurrence Passage

Yes: 35 • No: 0

House vote • 5/14/2026

JAMESTOWN BONDS & NOTES PASSAGE

Yes: 69 • No: 0

Actions Timeline

  1. Effective without Governor's signature

    6/10/2026Governor

  2. Transmitted to Governor

    6/2/2026Governor

  3. Senate passed in concurrence

    6/2/2026Senate

  4. Placed on Senate Calendar (06/02/2026)

    5/29/2026Senate

  5. Committee recommends passage in concurrence

    5/28/2026

  6. Scheduled for consideration (05/28/2026)

    5/26/2026

  7. Referred to Senate Housing and Municipal Government

    5/22/2026Senate

  8. House read and passed

    5/14/2026House

  9. Placed on House Calendar (05/14/2026)

    5/10/2026House

  10. Committee recommends passage

    5/7/2026

  11. Scheduled for consideration (05/07/2026)

    5/1/2026

  12. Committee recommended measure be held for further study

    4/29/2026

  13. Scheduled for hearing and/or consideration (04/29/2026)

    4/24/2026

  14. Introduced, referred to House Municipal Government & Housing

    4/3/2026House

Bill Text

  • H8403 - As Introduced

    4/3/2026

    HTMLPDF

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