Creates several new provisions for property development

Summary

The proposal would permit residential use in areas zoned commercial, industrial, or mixed‑use if at least 40% of the units in a new multifamily rental are affordable for 30 years. It blocks local governments from demanding extra zoning changes, height or density limits, and encourages reduced parking requirements near transit. It also offers partial or full property‑tax exemptions for qualifying affordable units in large multifamily projects.

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