Establishes the accessory dwelling unit forgivable loan program to incentivize the creation of affordable housing.

The bill enacts the "accessory dwelling unit incentive act" to establish a forgivable loan program by the Division of Homes and Community Renewal. It aims to increase affordable housing opportunities by providing loans for creating accessory dwelling units. These units must be rented to tenants meeting income and rent guidelines. The bill also includes provisions for tax exemptions for such units and requires annual reporting by the division.

Establishes the accessory dwelling unit forgivable loan program to incentivize the creation of affordable housing.

The bill enacts the "accessory dwelling unit incentive act" to establish a forgivable loan program by the Division of Homes and Community Renewal. It aims to increase affordable housing opportunities by providing loans for creating accessory dwelling units. These units must be rented to tenants meeting income and rent guidelines. The bill also includes provisions for tax exemptions for such units and requires annual reporting by the division.