Modernizes Chapter 40R by updating zoning incentive payments and requiring analysis of housing costs.

This bill updates and modernizes Chapter 40R by revising the zoning incentive payments for new housing construction in smart growth and starter home zoning districts. It introduces a new payment schedule based on the projected number of new housing units. Additionally, it mandates that the review of these incentive payments include an analysis of housing costs relative to the Consumer Price Index. After ten years, the increased incentives will revert to their original figures.

Modernizes Chapter 40R by updating zoning incentive payments and requiring analysis of housing costs.

This bill updates and modernizes Chapter 40R by revising the zoning incentive payments for new housing construction in smart growth and starter home zoning districts. It introduces a new payment schedule based on the projected number of new housing units. Additionally, it mandates that the review of these incentive payments include an analysis of housing costs relative to the Consumer Price Index. After ten years, the increased incentives will revert to their original figures.