The bill amends the Community and Economic Development Enhancement Act of June 27, 1996, by establishing a new chapter titled "Office of Housing Opportunity." This chapter creates the Office of Housing Opportunity within the Department of Community and Economic Development, which will be responsible for overseeing housing production targets and coordinating housing financing assistance. The Governor will appoint a Deputy Secretary for Housing Opportunity to manage the office, which will also have an advisory committee composed of various stakeholders, including government officials and community representatives, to provide recommendations on improving housing supply and affordability.

Additionally, the bill mandates the publication of housing production targets every ten years and requires annual progress reports detailing advancements toward these targets. The office will analyze data related to housing demand and collaborate with local jurisdictions to ensure comprehensive housing strategies. The advisory committee will also assess factors impacting housing affordability and report its findings every two years. Overall, the bill aims to enhance housing opportunities and address the challenges of housing supply and affordability in Pennsylvania.