The Rhode Island low-income housing tax credit program is hereby established as a program under the jurisdiction and administration of the Department. The program may provide tax credits for a period of five (5) years to applicants that are competitively selected and that meet the requirements of this chapter. The Department shall not obligate Rhode Island low-income housing tax credits that cumulatively total in excess of thirty million dollars ($30 million) in any fiscal year.
R.I. Gen. Laws § 44-71-4