The bill proposes a complete repeal of Chapter 45-53 of the General Laws, titled "Low and Moderate Income Housing," and introduces new sections that establish a framework for affordable housing in Rhode Island. The new provisions include:

1. **Short Title and Legislative Findings**: The act is titled "Low and Moderate Income Housing Act" and includes legislative findings emphasizing the need for affordable, accessible, safe, and sanitary housing for low and moderate-income individuals and families.

2. **Definitions**: New definitions are provided for terms related to low and moderate-income housing, including "affordable housing plan," "local review board," and "low- or moderate-income housing."

3. **Inclusion of Non-Income Restricted Units**: The bill allows municipalities to include non-income restricted multi-family rental units in their housing inventory, provided certain conditions are met.

4. **Comprehensive Permit Process**: It establishes a comprehensive permit process for low- or moderate-income housing, enabling applicants to submit a single application if at least 25% of the units are designated for low- or moderate-income residents. Municipalities are required to provide subsidies and zoning incentives to support these housing projects.

5. **Prohibition of Local Restrictions**: Local ordinances cannot impose restrictions on comprehensive permit applications that would limit the development of residential units.

6. **Appeals Process**: The bill outlines a streamlined appeals process for decisions made by local review boards, transferring pending matters to the superior court effective January 1, 2024.

7. **Oversight Commission**: An oversight commission is established to monitor the implementation of housing laws.

8. **Database for Low-Income Rental Units**: The bill mandates the creation of a database for low-income rental units to enhance transparency and accessibility.

9. **Annual Reporting**: It requires annual reporting on housing development activities, including the number of comprehensive permit applications and their statuses.

10. **Electronic Permitting**: Municipalities are required to adopt and implement electronic permitting for all development applications under this chapter by October 1, 2025.

Overall, the changes aim to enhance the framework for affordable housing in Rhode Island, ensuring that low and moderate-income housing remains accessible while improving the efficiency and transparency of the housing development process.