§ 42-11.2-9 - Fair market rent. - Rhode Island Statutes

SECTION 42-11.2-9

   § 42-11.2-9  Fair market rent. – The executive department shall determine a fair market rent for each unitassisted under this chapter in an amount that is no greater than the maximumfair market rent for the particular size unit as established by the U.S.Department of Housing and Urban Development for the Section 8 existing housingprogram under U.S.C. § 1437f at the time that the unit first receivesassistance under this chapter. The executive department shall further establisha schedule of rent increases that fairly provide for demonstrated reasonableincreases in operating expenses associated with the units assisted under thischapter; provided, however, that the fair market rent for any unit may not, atany time, exceed the then-current maximum fair market rent for the particularsize unit as established by the U.S. Department of Housing and UrbanDevelopment.