The bill proposes a comprehensive repeal of Chapter 45-53 of the General Laws, which pertains to "Low and Moderate Income Housing." It introduces new sections that emphasize the need for affordable, accessible, safe, and sanitary housing for low and moderate-income individuals and families. Key provisions include:

1. A streamlined application process for comprehensive permits, allowing applicants to submit a single application for projects that designate at least 25% of units as low- or moderate-income.
2. Prohibition of municipalities from imposing restrictions on these applications through local ordinances, ensuring a more efficient review process while integrating low- and moderate-income housing within overall developments.
3. Establishment of an oversight commission to monitor the implementation of housing laws.
4. Creation of a database for low-income rental units, which will be maintained by the Rhode Island housing and mortgage finance corporation.
5. Annual reporting requirements for the Rhode Island housing corporation regarding housing development activities, including the number of letters of eligibility issued and the status of comprehensive permit applications.
6. Requirement for municipalities to adopt electronic permitting for all development applications under this chapter by October 1, 2025.

The bill also includes significant deletions from current law, such as the removal of specific reporting requirements and stipulations regarding electronic permitting fees. Overall, the legislation aims to enhance transparency, streamline housing development processes, and facilitate the creation of affordable housing in Rhode Island.