This bill modifies criteria for the adoption of housing opportunity zones by a municipality and expands the definition of inclusionary zoning to include standards for housing affordability. The bill amends RSA 674:21, IV(a) to define inclusionary zoning as land use control regulations that provide a voluntary incentive or benefit to a property owner to produce housing units that are affordable to low and moderate-income individuals or families. The bill also allows inclusionary zoning ordinances to require housing affordability standards that do not reduce the economic viability of developments and may be used in conjunction with housing opportunity zones. The bill also amends RSA 79-E:4-c to allow cities or towns to establish housing opportunity zones, with at least 20% of the housing units constructed designated for households with an income of 100% or less of the area median income. Qualifying structures in housing opportunity zones will be eligible for tax assessment relief for up to 25 years.

Overall, this bill aims to encourage the production of affordable housing units by providing incentives to property owners and establishing housing opportunity zones with tax relief for qualifying structures.

Statutes affected:
Introduced: 674:21