The bill amends sections of the General Laws related to "Low and Moderate Income Housing," with changes effective January 1, 2024. It revises definitions, such as "Adjustment(s)," "Affordable housing plan," "Infeasible," and "Low- or moderate-income housing," and deletes the term "Local board" while updating "Local review board." The bill mandates that at least 20% of residential units approved in a calendar year must be for low- and moderate-income housing and changes the language from "may" to "shall" to require that assistance be provided to such housing projects, including financial support and zoning incentives. It also establishes a single application process for a comprehensive permit for developments with at least 25% low- or moderate-income housing and outlines zoning incentives and prohibitions on municipal restrictions.

The bill streamlines the review process for comprehensive permit applications, removing certain public notice and review timeline requirements, and establishes new requirements for preliminary plan review applications. It also outlines the required findings for approval or denial of applications by local review boards and introduces provisions regarding the vesting of approved preliminary plans. The bill requires the subsidy for low- and moderate-income housing to be provided for at least 30 years and specifies items for the final plan review checklist. It grants local review boards the power to issue permits with conditions and requires majority votes for decisions on comprehensive permits. The bill sets expiration limits for permits, allows council action to limit the number of dwelling units for for-profit developers, and requires reporting to the housing resources commission. It includes a moratorium on comprehensive permit applications by private for-profit developers until January 31, 2005, and sets deadlines for towns and cities to prepare a comprehensive plan housing element. The act takes effect on January 1, 2024.