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5/26/2026
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Senate approves Bissaillon bill authorizing $25 million affordable housing bond for Providence
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STATE HOUSE – The Senate today approved legislation sponsored by Sen. Jacob E. Bissaillon authorizing Providence to ask voters to approve a $25 million bond issue to support affordable housing development in the capital city.
“As chairman of the Senate Housing and Municipal Government Committee, I recognize that the depth of our housing crisis demands multifaceted efforts across every level of government. I deeply appreciate all the mayor and the City Council are doing to support affordable housing solutions for the people of Providence, and I strongly support this effort to fund housing development in our city,” said Senator Bissaillon (D-Dist. 1, Providence).
The legislation (2026-S 2674) authorizes the city to place a question on November’s ballot approving the issuance of up to $25 million in bonds. Proceeds from the bonds would go to the Providence Housing Trust Fund to finance affordable multi-family housing projects in the city.
The bill has the support of the Providence City Council as well as Mayor Brett P. Smiley, who testified before the Senate Finance Committee in support of the legislation, saying the trust fund has financed the development or preservation of more than 1,600 homes in the city in recent years, and needs more funding to continue that effort.
“Providence is leading the way on affordable housing, and this $25 million housing bond will allow us to continue building and preserving affordable homes across our city,” said Mayor Brett P. Smiley. “By recapitalizing the Providence Housing Trust, we can continue making strategic investments that help families stay in Providence and expand access to safe, stable and affordable housing. I want to thank Senator Jake Bissaillon for his leadership and partnership in advancing this important legislation for Providence residents.”
The legislation now goes to the House, which passed companion legislation (2026-H 7491) sponsored by Sen. Rebecca Kislak (D-Dist. 4, Providence) on May 14.
For more information, contact:
Meredyth R. Whitty, Publicist
State House Room 20
Providence, RI 02903
(401) 222-1923
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