reglab/housing_qa huggingface dataset:
RI Gen L § 45-33.2-11 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-11 - Credit of municipality not pledged.

§ 45-33.2-11. Credit of municipality not pledged.The bonds and notes issued under this chapter are payable solely from project revenues. These bonds and notes shall not at any time be included in the debt of the city or town for the purpose of ascertaining its legal borrowing capacity.History of Section.P.L. 1984, ch. 78, § 1.
RI Gen L § 45-33.2-12 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-12 - Investment of funds.

§ 45-33.2-12. Investment of funds.Subject to any agreement securing bonds or notes issued under this chapter, the proceeds of the bonds or notes, pledged tax increments, and other project revenues may be deposited or invested in:(1) Obligations of the state or the United States;(2) Obligations of the principal and interest of which are guaranteed by the state or the United States;(3) Obligations of agencies and instrumentalities of the state or the United States;(4) Certificates of deposits of, and repurchase agreements, so called, issued with respect to obligations of the United States by, banks and trust companies organized under the laws of the state or doing business in the state; or(5) As may be provided in any other applicable law of the state or resolution of a city or town council or pursuant to an investment policy of the city or town.History of Section.P.L. 1984, ch. 78, § 1; P.L. 2018, ch. 156, § 3; P.L. 2018, ch. 292, § 3.
RI Gen L § 45-33.2-13 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-13 - Trust funds.

§ 45-33.2-13. Trust funds.All project revenues received pursuant to the provisions of this chapter which have been pledged as security, including, without limiting the generality of the preceding, security for the repayment of bonds issued pursuant to § 45-33.2-6, are deemed to be trust funds to be held and applied solely as provided in this chapter. Project revenues received pursuant to the provisions of this chapter which have not been pledged as security may be used in any manner consistent with the project plan, as well as, with respect to the tax increment portion of the plan, § 45-33.2-3(7).History of Section.P.L. 1984, ch. 78, § 1; P.L. 1992, ch. 424, § 1.
RI Gen L § 45-33.2-14 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-14 - Remedies of bondholders and noteholders.

§ 45-33.2-14. Remedies of bondholders and noteholders.Any holder of bonds or notes issued under this chapter, or of any of the coupons appertaining to those bonds and notes, and the trustee under any trust agreement securing the bonds or notes, except to the extent the rights herein given may be restricted by any agreement securing the bonds or notes, may bring suit upon the bonds, notes, or coupons and may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce any and all rights under the laws of the state or granted under this chapter or under any agreement, and may enforce or compel the performance of all duties required by this chapter or by an agreement to be performed by the city or town or by any city or town officer.History of Section.P.L. 1984, ch. 78, § 1.
RI Gen L § 45-33.2-15 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-15 - Bonds and notes as legal instruments.

§ 45-33.2-15. Bonds and notes as legal instruments.Bonds and notes issued under the provisions of this chapter are securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking associations, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. These bonds are securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the state for any purpose for which the deposit of bonds or obligations of the state is now or may be authorized by law.History of Section.P.L. 1984, ch. 78, § 1.
RI Gen L § 45-33.2-16 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-16 - Bonds and notes as investment securities.

§ 45-33.2-16. Bonds and notes as investment securities.Notwithstanding any of the provisions of this chapter or any recitals in any bond or notes issued under this chapter, all bonds and notes are deemed to be investment securities under the Uniform Commercial Code, §§ 6A-1-101 — 6A-9-507.History of Section.P.L. 1984, ch. 78, § 1.
RI Gen L § 45-33.2-17 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-17 - Exemption from taxation.

§ 45-33.2-17. Exemption from taxation.The bonds and notes issued under this chapter, their transfer and their income, including any profit made on their sale, are at all times free from taxation within the state.History of Section.P.L. 1984, ch. 78, § 1.
RI Gen L § 45-33.2-18 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-18 - Annual report.

§ 45-33.2-18. Annual report.No later than September 1 of each year a project plan pursuant to this chapter is in effect in a city or town, the city or town shall make a report to the director of the department of economic development. The annual report shall review for the preceding fiscal year the activities financed by tax increment financing, the taxable valuation of the city or town, and for each tax increment area within the city or town, the taxable valuation of the property within the tax increment area, the amount of the tax increment, and the amount used or set aside for the purposes of the plan. The report shall also include the approximate number of new jobs created or preserved from the activities financed by tax incremental financing, construction and nonconstruction, the approximate amount of the wages for the jobs created, what types of fringe benefits, such as healthcare insurance or retirement benefits were made available to the new jobs created, the amount of new personal income taxes generated for the state of Rhode Island, a description of any plan or process intended to stimulate hiring in the municipality where the project is located, training of employees or potential employees and outreach to minority job applicants and minority businesses and any other relevant information requested by the director.History of Section.P.L. 1984, ch. 78, § 1; P.L. 2004, ch. 275, § 1; P.L. 2004, ch. 390, § 1.
RI Gen L § 45-33.2-19 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-19 - Provisions supplementary.

§ 45-33.2-19. Provisions supplementary.The preceding provisions of this chapter are deemed to provide an additional and alternative means for the doing of things authorized by it, and are regarded as supplemental and additional to, and not in derogation of, powers conferred upon cities and towns by other laws.History of Section.P.L. 1984, ch. 78, § 1.
RI Gen L § 45-33.2-20 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-20 - Severability.

§ 45-33.2-20. Severability.The provisions of this chapter are severable, and if any provision thereof shall be held invalid in any circumstances, invalidity shall not affect any other provisions or circumstances. This chapter shall be construed in all respects so as to meet all constitutional requirements. In carrying on the purposes and provisions of this chapter, all steps shall be taken which are necessary to meet constitutional requirements whether or not those steps are required by statute.History of Section.P.L. 1984, ch. 78, § 1.
RI Gen L § 45-33.2-21 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-21 - Tax limitations.

§ 45-33.2-21. Tax limitations.(a) Except as provided below, a tax increment shall be included in the calculation of the maximum tax a city or town may levy pursuant to the provisions of § 44-5-2.(b) To the extent that inclusion of a tax increment in a tax levy causes a municipality to exceed the maximum tax a city or town may levy pursuant to the provisions of § 44-5-2, such excess shall be excluded from such calculation for a period not to exceed twenty-five (25) years if such excess tax increment is allocable to: (i) the payment of the principal of or interest on any special obligation bonds issued under the provisions of § 45-33.2-6, to fund a capital project under this chapter; (ii) any requirement to fund any reserve or other account or satisfy any other financial requirement which must be satisfied in connection with the issuance of such bonds or any other indebtedness or obligation incurred in connection with any such capital project or portion of one; or (iii) any payments made to directly fund any capital project.(c) The tax assessor in each city and town shall include calculations reflecting any tax increment excluded from the tax cap provisions of § 44-5-2 when submitting the municipality's adopted tax levy and rate to the division of property valuation in accordance with § 44-5-2.(d) [Deleted by P.L. 2018, ch. 156, § 3 and P.L. 2018, ch. 292, § 3].History of Section.P.L. 2008, ch. 206, § 1; P.L. 2008, ch. 219, § 1; P.L. 2018, ch. 156, § 3; P.L. 2018, ch. 292, § 3.
RI Gen L § 45-33.2-22 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-22 - Alternate tax increment provisions.

§ 45-33.2-22. Alternate tax increment provisions.Section 45-33.2-3.1 and §§ 45-33.2-22 through 45-33.2-28 are intended to modernize the laws of the state governing tax increment financing to facilitate economic development in the state. Section 45-33.2-3.1 and §§ 45-33.2-22 through 45-33.2-28 shall be construed to provide a complete, additional, and alternative method for performing the things authorized by this chapter, and shall be regarded as supplemental and in addition to the powers conferred by other laws, including §§ 45-33.2-2 through 45-33.2-21. Cities and towns which have created tax increments in accordance with §§ 45-33.2-2 through 45-33.2-21 may elect to use the provisions of § 45-33.2-3.1 and §§ 45-33.2-22 through 45-33.2-28 by adopting an ordinance of the city or town council:(1) Declaring the intention to be bound by § 45-33.2-3.1 and §§ 45-33.2-22 through 45-33.2-28; and(2) Approving such amendments to the city or town redevelopment plan and project plan as may be required to proceed in accordance with § 45-33.2-3.1 and §§ 45-33.2-22 through 45-33.2-28. Effective July 1, 2018, a tax increment may be established which is not in a project area, as defined in § 45-33.2-3(4) or adopted pursuant to a project plan, as defined in § 45-33.2-3(5).History of Section.P.L. 2018, ch. 156, § 4; P.L. 2018, ch. 292, § 4.
RI Gen L § 45-33.2-24 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-24 - Reserved.

§ 45-33.2-24. Reserved.
RI Gen L § 45-33.2-25 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-25 - Planning commission advisory opinion - Conditions for tax increment district.

§ 45-33.2-25. Planning commission advisory opinion — Conditions for tax increment district.Prior to the establishment of a tax increment district and approval of a tax increment district master plan for such tax increment district, a city or town council shall:(1) Find that the proposed tax increment district and tax increment district master plan will contribute to the economic growth or well-being of the city or town or to the betterment of the health, welfare, or safety of the inhabitants of the city or town;(2) Transmit the tax increment district master plan to the planning commission of the city or town, if any, requesting a study of the tax increment district master plan and a written advisory opinion. The planning commission shall, within ninety (90) days, or the additional period approved by the city or town council, provide a written advisory opinion to the city or town council. The written advisory opinion shall include a determination on whether the plan is consistent with the comprehensive plan of the city or town adopted under § 45-22.2-8;(3) Hold at least one public hearing on the proposal to establish a tax increment district. Notice of the hearing shall be published at least ten (10) days prior to the hearing in a newspaper having general circulation within the city or town and shall include:(i) The date, time, and place of the hearing; and(ii) The boundaries of the proposed tax increment district by legal description; and(4) Determine whether the proposed tax increment district meets the following conditions:(i) A portion of the real property within a tax increment district shall meet at least one of the following criteria:(A) Be a substandard, insanitary, deteriorated, deteriorating, or blighted area;(B) Be in need of rehabilitation, redevelopment, or conservation work; or(C) Be suitable for industrial, commercial, residential, mixed-use or retail uses, downtown development, or transit-oriented development; and(ii) The original assessed value of a proposed tax increment district plus the assessed value of all existing tax increment districts within a city or town may not exceed twenty-five percent (25%) of the total value of taxable property within the city or town as of December 31 of the year immediately preceding the establishment of the tax increment district. Excluded from the calculation in this subdivision is any tax increment district established on or after the effective date [July 1, 2018] of § 45-33.2-3.1 and §§ 45-33.2-22 through 45-33.2-28 that consists entirely of contiguous property owned by a single taxpayer. For the purpose of this subdivision, "contiguous property" includes a parcel or parcels of land divided by a road, power line, railroad line, or right-of-way. A city or town may not establish a tax increment district if the conditions in this subdivision are not met.History of Section.P.L. 2018, ch. 156, § 4; P.L. 2018, ch. 292, § 4.
RI Gen L § 45-33.2-28 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-28 - Project costs.

§ 45-33.2-28. Project costs.Costs authorized for payment from a tax increment district master plan fund established pursuant to § 45-33.2-27 are limited to:(1) Costs of improvements made within the tax increment district, including, but not limited to:(i) Capital costs, including, but not limited to:(A) The acquisition or construction of land, improvements, infrastructure, public ways, parks, buildings, structures, railings, street furniture, signs, landscaping, plantings, benches, trash receptacles, curbs, sidewalks, turnouts, recreational facilities, structured parking, transportation improvements, pedestrian improvements, and other related improvements, fixtures, and equipment for public use;(B) The acquisition or construction of land, improvements, infrastructure, buildings, structures, including facades and signage, fixtures, and equipment for industrial, commercial, residential, mixed-use or retail use, or transit-oriented development;(C) The demolition, alteration, remodeling, repair, or reconstruction of existing buildings, structures, and fixtures;(D) Environmental remediation;(E) Site preparation and finishing work; and(F) All fees and expenses associated with the capital cost of such improvements, including, but not limited to, licensing and permitting expenses and planning, engineering, architectural, testing, legal, and accounting expenses;(ii) Financing costs, including, but not limited to, closing costs, issuance costs, reserve funds, and capitalized interest;(iii) Real property assembly costs;(iv) Costs of technical and marketing assistance programs;(v) Professional service costs, including for municipal staff, which may include but not be limited to, licensing, architectural, planning, engineering, development, and legal expenses;(vi) Organizational costs relating to the planning and the establishment of the tax increment district, including, but not limited to, the costs of conducting environmental impact and other studies and the costs of informing the public about the creation of tax increment districts and the implementation of the tax increment district master plan; and(2) Costs of improvements that are made outside the tax increment district but are directly related to or are made necessary by the establishment or operation of the tax increment district, including, but not limited to that portion of the costs reasonably related to the construction, alteration or expansion of any facilities not located within the tax increment district that are required due to improvements or activities within the tax increment district, including, but not limited to, roadways, traffic signalization, easements, sewage treatment plants, water treatment plants or other environmental protection devices, storm or sanitary sewer lines, water lines, electrical lines, improvements to fire stations, and street signs.History of Section.P.L. 2018, ch. 156, § 4; P.L. 2018, ch. 292, § 4.
RI Gen L § 45-33.2-29 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.2 - Municipal Tax Increment Financing Act|Section 45-33.2-29 - Limitation of powers.

§ 45-33.2-29. Limitation of powers.The state pledges to and agrees with any person, firm, or corporation, or federal agency subscribing to or acquiring the bonds to be issued under this chapter, that the state will not limit or alter the rights vested in the authority until all bonds at any time issued, together with their interest, are fully met and discharged. The state does further pledge to and agree with the United States, and any other federal agency, that in the event that any federal agency constructs or contributes any funds for the construction, extension, improvement, equipping, furnishing, or enlargement of any project, or any portion of it, the state will not alter or limit this chapter in any manner that would be inconsistent with the due performance of any agreements with the federal agency; and cities and towns continue to have and may exercise all powers granted by this chapter, so long as the powers are necessary or desirable for the carrying out of the purposes of this chapter.History of Section.P.L. 2018, ch. 156, § 4; P.L. 2018, ch. 292, § 4.
RI Gen L § 45-33.3-1 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.3 - Housing Project Loans|Section 45-33.3-1 - Housing project loans.

§ 45-33.3-1. Housing project loans.Any housing authority created under chapter 25 or 26 of this title, and any redevelopment agency created under chapter 31 of this title, is authorized to make loans as provided in this chapter to any one or more persons, partnerships, or corporations for the purpose of financing the acquisition, construction, rehabilitation, or other development of one or more lower income housing projects located within their respective communities. For purposes of this chapter, a lower income housing project means one or more buildings and structures, and all real and personal property associated therewith, to be used primarily for residential rental purposes; provided, that not less than twenty percent (20%) of the residential units in the project will be occupied or available for occupancy, for a term of years that the authority or agency determines, by persons or families whose income is fifty percent (50%) or less of the median gross income for the area in which the project is located, as determined by the United States Department of Housing and Urban Development; and provided, further, that a portion of the cost of the project has been approved prior to April 30, 1988 for funding by a housing development grant under § 17 of the United States Housing Act of 1937 [42 U.S.C. § 1417, repealed by Pub. L. 90-448, Aug. 1, 1968].History of Section.P.L. 1988, ch. 10, § 1.
RI Gen L § 45-33.3-2 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.3 - Housing Project Loans|Section 45-33.3-2 - Terms and conditions of loans.

§ 45-33.3-2. Terms and conditions of loans.Loans made by a housing authority or redevelopment agency pursuant to this chapter may be secured or unsecured, and may be in an amount, payable on a date or dates, bear interest at a rate or rates, and otherwise have terms and conditions relating to the loans, and to the lower income housing project financed by the loans, as the housing authority or redevelopment agency determines or as may be required by the housing development grant for the project. The proceeds of the loan shall be applied to costs of the lower income housing project not funded by the housing development grant, and to other costs of the project, the making of the loan, the issuance of bonds, as provided in this chapter, and the funding and maintenance of reserves to secure the loan or bonds as the housing authority or redevelopment agency determines. Any housing authority and any redevelopment agency is authorized to accept security interests and mortgages in personal property and real estate to secure loans made or bonds issued under this chapter, and is empowered to exercise all of the rights of a secured party or mortgagee with respect to the security.History of Section.P.L. 1988, ch. 10, § 1.
RI Gen L § 45-33.3-3 (2021)
2021 Rhode Island General Laws|Title 45 - Towns and Cities|Chapter 45-33.3 - Housing Project Loans|Section 45-33.3-3 - Bonds.

§ 45-33.3-3. Bonds.(a) Any housing authority or redevelopment agency has power to issue bonds from time to time in its discretion for the purpose of funding any loan made under this chapter, or for the purpose of refunding, paying, or retiring bonds previously issued by it for that purpose.(b) The bonds may be unsecured or secured by an assignment of the loan or any rights thereunder, by a pledge of any income or revenue of the authority or the agency received on account of loan, by a mortgage on or security interest in the lower income housing project financed by it, by letters of credit, lines of credit or other credit instruments, or by any combination of the preceding as the authority or agency determines in its discretion.(c) The bonds of the authority or the agency are authorized by its resolution, may be issued in one or more series, and shall be dated, mature at a time or times, bear interest at a rate or rates, payable at a time or times, be in a form, be subject to terms of redemption, tender, or repurchase and bear any other terms and conditions as the resolution, or any trust indenture, mortgage, or other contract, providing for their issuance or securing the bonds, may provide.(d) The bonds may be sold by the housing authority or redevelopment agency at public or private sale at a price or prices that the authority or agency determines.(e) Except to the extent inconsistent with any provision of this chapter, the issue of bonds pursuant to this chapter and their details, the rights of their holders and the rights, duties, and obligations of the authority or agency in respect of the bonds are governed by the provisions of chapters 27 and 33 of this title insofar as those provisions may be applicable.History of Section.P.L. 1988, ch. 10, § 1.