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 restrictions preventing entities like real estate investment trusts from purchasing and renting units. Additionally, it outlines design requirements to foster community interaction and specifies that counties or municipalities will manage the development projects, 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 exempts parcels over 10 acres from current-use taxes. However, the bill does not identify a funding source or designate a department to manage the program, leading to indeterminate impacts on state, county, and local revenues and expenditures.