The bill amends Section 45-24-46.1 of the General Laws regarding inclusionary zoning. It allows municipalities to include various methods for fulfilling affordable housing requirements in their zoning ordinances, such as off-site construction or payment of a fee in lieu of building affordable units. The bill mandates that zoning ordinances require a minimum of fifteen percent (15%) affordable housing units in new developments of ten or more dwelling units, with the affordable units remaining affordable for at least thirty years, enforceable through land leases or deed restrictions.

A significant change in the bill is the specific allowance for the town of Smithfield to determine its density bonuses based on its underlying zoning. The bill also introduces provisions for density bonuses, allowing developers to add one market-rate unit for each affordable unit required, with local regulations providing relief from dimensional requirements to accommodate this bonus. Additionally, it outlines the process for fee-in-lieu payments, which must be used for creating affordable housing and managed by a local affordable housing board. Any unallocated fee-in-lieu payments after three years must be transferred to the executive office of housing for affordable housing development. The act will take effect upon passage.

Statutes affected:
8281: 45-24-46.1