This bill mandates that newly-built affordable housing inclusionary developments consisting of 10 or more units or four or more stories must adhere to specific green building standards, requiring certification to at least Leadership in Energy and Environmental Design (LEED) silver standards or an equivalent rating system. Additionally, developers must conduct and submit reports on several impact studies—including traffic, school, and storm water impacts—to the municipality before submitting their application for development. If the development requires clearing more than one acre of land, a carbon impact study must also be included.

The bill further stipulates that the Commissioner of Community Affairs will establish rules and regulations to implement these requirements within eight months of enactment. The provisions of this act will take effect 13 months after enactment, and developments with applications submitted before this date will be exempt from these new requirements.