McKee signs $13.9B FY25 ‘Team Rhode Island’ state budget
PROVIDENCE, R.I. (WLNE) — Rhode Island Governor Dan McKee has signed the Rhode Island FY25 budget, which emphasizes education, housing, local road improvements and small businesses and totals $13.9 billion.
In the area of housing, the budget contains a $120 million housing bond, which includes $80 million in affordable housing, $20 million for homeownership programs, among other items.
Resources for Rhode Islanders experiencing homelessness provides $17.3 million toward housing navigation, stabilization, and mental health services.
The total committed toward combatting homelessness is $38.8 million.
Medicaid provider rates were also raised with the budget, with $163.9 million going toward fully funding the recommended rates from the Office of the Health Insurance Commissioner.
Behavioral health services are also bolstered with $79.7 million committed to establish new Certified Community Behavioral Health Clinics.
Nursing homes will be supported with $10 million to help nursing homes cover costs until October 2024 when new nursing home rates take effect.
Education will also be addressed in the budget, with the total funds being increased by $70.9 million.
This includes funding for additional pre-k classrooms, Learn365RI Grants, and expanding free school meal eligibility.
Funding for the economy and local businesses is included, with $2.6 million in state fiscal recovery funds toward businesses impacted by the Washington Bridge reconstruction.
This includes $1.2 million for East Providence and $800,000 for Providence.
The Washington Bridge will be addressed in the budget as well, with $83.6 going toward a state match for the reconstruction of the new bridge.
