Affordable Housing

Summary

The bill changes state law so that counties and municipalities can only grant zoning variances for new multifamily projects if at least 40% of the units are rental and stay affordable for 30‑50 years. It also requires any density or fee incentives to be used for building affordable housing, adjusts property‑tax exemptions for low‑income units, and removes documentary stamp taxes on deeds for first‑time homebuyers. The aim is to boost affordable housing supply and lower purchase costs for new buyers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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