The bill amends Chapter 42-64 of the General Laws to establish a voluntary "Rhode Island housing champion designation" program for qualifying municipalities. Under this program, municipalities can apply to the Rhode Island Commerce Corporation to receive the designation, which would grant them preferential access to state resources, including discretionary state infrastructure funds. The bill outlines specific qualifications for municipalities to achieve this designation, such as adopting land use regulations that promote workforce housing, training planning and zoning board members, and implementing necessary infrastructure improvements.

Additionally, the bill mandates that designated municipalities must submit annual reports detailing their progress and activities related to housing development. The designation is valid for three years, with the possibility of renewal based on performance metrics. The Commerce Corporation is also required to produce an annual report assessing the program's impact, including the number of housing units produced as a result of the program, which will be submitted to state leadership and made publicly available online. The act will take effect upon passage.