Requires each county to prepare a housing supply plan to plan for projected increases in the State's housing supply to meet housing demands of the respective county, identify and analyze existing and projected housing needs for all income levels, define the term "housing demand" including a ratio of jobs to residents to account for latent demand, and identify adequate sites for housing, including rental housing. Requires housing supply plans to be submitted to the legislature. Appropriates funds for the counties to conduct the required studies.