(a) There is created a special account in the state general fund to be known as the "Rhode Island housing and conservation trust fund." The fund is administered by the board and expenditures from the fund are made only to implement and effectuate the policies and purposes of this chapter. The board is authorized to accept any private grant, devise, bequest, donation, gift, or assignment of money, bonds, or other valuable securities for deposit in and credit of the Rhode Island housing and conservation trust fund.
(b) Unexpended balances and any earnings shall not revert to the general fund but shall remain in the fund for use in accord with the purposes of this chapter.
(c) The members of the board and the executive director shall be appointed upon June 23, 1994.
History of Section.
P.L. 1990, ch. 347, § 1; P.L. 1993, ch. 422, § 17; P.L. 1994, ch. 14, § 17; P.L. 1994, ch. 80, § 1.