This bill allows municipalities to adopt and enforce ordinances that impose affordable housing investment fees as part of their innovative land use controls. Specifically, it amends RSA 674:21 by adding a new subparagraph (o) that defines "affordable housing investment fee" and establishes guidelines for its implementation. The fees will be assessed on developments that do not comply with local inclusionary zoning ordinances and are intended to fund affordable housing initiatives within the municipality. The bill stipulates that these fees must be kept in a separate account, distinct from the municipality's general fund, and can only be used for affordable housing investments. Additionally, municipalities are required to prepare an annual report detailing the expenditures of these fees.

The bill also outlines the process for assessing and collecting these fees, which will occur at the time of planning board approval or prior to the issuance of building permits. It allows for the establishment of alternate payment schedules and includes provisions for appeals and waivers related to the fee ordinances. The effective date of the act is set for 60 days after its passage. Overall, the fiscal impact of the bill is expected to result in an indeterminable increase in local revenue, potentially exceeding $100,000 per municipality, while expenditures related to the implementation and administration of the fees are anticipated to be less than $10,000 per municipality.

Statutes affected:
Introduced: 674:21
HB1145 text: 674:21