The proposed bill establishes the Housing Opportunity Project Extension (HOPE) Act, aimed at incentivizing New Hampshire counties and municipalities to develop affordable workforce housing. It allows for the creation of housing opportunity zones where various types of residential units, including multifamily homes, condominiums, and single-family homes, can be built. The bill mandates that homes be owner-occupied, with deed restrictions preventing entities like real estate investment trusts from purchasing properties for rental purposes. Additionally, it outlines design requirements to foster community interaction and specifies that counties or municipalities will manage the development process, with profits benefiting taxpayers.

To support these initiatives, the state will provide $20 million in grants for infrastructure development, with specific limits on the amount any single municipality or county can receive. The bill also includes exemptions from real estate transfer taxes for the first property transfer from developer to owner and current-use tax exemptions for larger parcels. However, the bill does not identify a funding source or designate a managing department, leading to indeterminable impacts on state, county, and local revenues and expenditures.