Housing (Homeownership)

Establishes the first-time home buyer savings program act. Allows modifications to federal adjusted gross income for $50,000 in contributions and $150,000 of interest and dividends included in federal adjusted gross income.

Establishes the first time home buyer savings program act. Allows modifications to federal adjusted gross income for $50,000 in contributions and $150,000 of interest and dividends included in federal adjusted gross income.

Allows an individual, who is a first-time homebuyer, to contribute funds to a first-time homebuyer savings account with Rhode Island housing to pay for eligible costs to purchase a home and receive tax deductions and exemptions.

Establishes a revolving fund to assist first-time home buyers and veterans to purchase a home in Rhode Island by issuing grants of up to forty thousand dollars ($40,000).

HB 7219 establishes statewide standards for accessory dwelling units (ADUs), small secondary homes on residential properties, while giving municipalities the option to adopt these rules. It requires towns to allow one ADU per lot under specific conditions (e.g., owner-occupied for disability accommodations, large lots, or within existing structures) and sets clear limits on ADU size (minimum 900 sq. ft. studio or 1,200 sq. ft. two-bedroom), prohibits excessive fees or discriminatory restrictions, and bans bans on ADUs in new developments. The bill also prevents municipalities from requiring extra lot size or parking for ADUs, voids conflicting private property restrictions, and bans ADUs for short-term rentals. These rules take effect July 1, 2026, and apply to homeowners, renters, and local governments that choose to implement the standards.