The bill amends sections 45-53-3 and 45-53-4 of the General Laws concerning "Low and Moderate Income Housing" in Rhode Island. It introduces new definitions for "low- and moderate-income" housing and details the criteria for an "approved affordable housing plan" as part of a local comprehensive plan. The bill streamlines the application process for low- and moderate-income housing by allowing applicants to elect for a master plan review prior to preliminary plan submission, which includes specific submission requirements and timelines for local review boards to act on applications.

Municipalities are mandated to provide zoning incentives, such as density bonuses, to support these developments. The bill establishes a timeline for local review boards to render decisions on master plan applications, with automatic approval if they fail to act within the specified period. It clarifies the responsibilities of local review boards, including the requirement to provide evidence-based findings when voting on applications.

Significant deletions include the removal of provisions that allowed towns to limit comprehensive permit applications from for-profit developers to one percent of total housing units. The act aims to enhance the availability of low- and moderate-income housing while ensuring municipalities develop adequate plans to meet housing goals. The effective date for section 1 is upon passage, while section 2 will take effect on January 1, 2026.