The general assembly recognizes and declares the following purpose for enacting this chapter:

(1)  There exists a serious shortage of decent, safe, and sanitary rental housing units that are available at rents affordable to low-income families in Rhode Island. Many families are denied access to decent housing because they are unable to meet the higher cost of rent. Rising housing costs in Rhode Island force low-income families to live in unsafe, substandard units; commit such an unreasonably high percentage of their income for rent that they deprive themselves of the other necessities of life; or, worse, find themselves without housing. The inadequacy in the supply of decent, safe, and sanitary affordable rental housing endangers the public health and jeopardizes the public safety, general welfare, and good of the entire state.

(2)  Federal housing assistance programs have not been able to meet the need to preserve existing rental units or construct new rental units for occupancy by low-income families. There is a compelling need to provide housing for low-income families in the state of Rhode Island. A rental assistance program is hereby established to be administered by the executive department to help provide low-income families with the opportunity to afford decent, safe, and sanitary housing.