§ 42-11.2-9. Fair market rent.
The executive department shall determine a fair market rent for each unit assisted under this chapter in an amount that is no greater than the maximum fair market rent for the particular size unit as established by the U.S. Department of Housing and Urban Development for the Section 8 existing housing program under U.S.C. § 1437f at the time that the unit first receives assistance under this chapter. The executive department shall further establish a schedule of rent increases that fairly provide for demonstrated reasonable increases in operating expenses associated with the units assisted under this chapter; provided, however, that the fair market rent for any unit may not, at any time, exceed the then-current maximum fair market rent for the particular size unit as established by the U.S. Department of Housing and Urban Development.
History of Section.P.L. 1988, ch. 579, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-11.2 - Affordable Housing Opportunity
Section 42-11.2-1. - Short title.
Section 42-11.2-2. - Legislative purpose.
Section 42-11.2-3. - Definitions.
Section 42-11.2-4. - Rental assistance — Unit based subsidies.
Section 42-11.2-5. - Application for assistance payments by owner.
Section 42-11.2-6. - Monthly assistance payments.
Section 42-11.2-7. - Required contract provisions.
Section 42-11.2-8. - Anti-displacement provisions.
Section 42-11.2-9. - Fair market rent.
Section 42-11.2-10. - Utility allowance.
Section 42-11.2-11. - Tenant eligibility.
Section 42-11.2-12. - Admission and selection of tenants.
Section 42-11.2-13. - Tenant rent.
Section 42-11.2-14. - Regulations.