This bill mandates that newly-built affordable housing inclusionary developments consisting of 10 or more units or four or more stories must adhere to green building standards, specifically 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 local municipality before submitting their development applications. For developments that require clearing more than one acre of land, a carbon impact study is also required.

The bill further instructs the Commissioner of Community Affairs to establish rules and regulations to implement these provisions within eight months of enactment. It is set to take effect 13 months after enactment, with the stipulation that it will not apply to any developments for which a complete application is submitted prior to that date.