The bill amends sections 45-53-3 and 45-53-4 of the General Laws concerning "Low and Moderate Income Housing," introducing new definitions such as "Adjustment(s)," "Affordable housing plan," "Approved affordable housing plan," and "Local review board." It clarifies the term "Consistent with local needs," emphasizing the need to consider the impact on residents, public school systems, transportation, and infrastructure when evaluating housing needs. The bill also specifies that multi-family rental units constructed under a comprehensive permit can contribute to a municipality's low- or moderate-income housing inventory. Notably, it removes the term "low-income" from the definition of "Consistent with local needs" and establishes criteria for counting housing units towards municipal requirements, including provisions for mobile homes and rental properties with federal assistance.

Additionally, the bill outlines new procedures for substantial multi-family housing projects, defined as those proposing over sixty units in municipalities with populations under 35,000. It mandates separate applications to local boards, which must assess consistency with local needs, and requires that at least 20% of approved residential units be designated for low- and moderate-income housing. The bill also introduces municipal subsidies and zoning incentives to promote affordable housing development, limits parking and bedroom restrictions, and prohibits moratoriums on comprehensive permit applications. It establishes a structured review process, including pre-application conferences and timelines for local review boards to make decisions, ensuring that developments align with local needs while addressing community health and safety concerns. The act will take effect upon passage.