RELATING TO TRANSIT-ORIENTED DEVELOPMENT.
What changed between versions
Added formal definitions for 'transit-oriented development' (compact, dense, walkable neighborhoods centered around transit) and 'transit-supportive density' (minimum floor area ratios of 4.0, 6.0, or 7.0 depending on distance from transit stations).
Added requirement that development in county-designated TOD areas must meet minimum density standards to qualify for priority financing and ministerial permit processing.
Added requirement that permits for TOD development be processed as ministerial permits (streamlined, objective standards) rather than discretionary permits.
Modified the Rental Housing Revolving Fund to prioritize loans for mixed-income rental projects in TOD areas, with at least 51% of funds for such projects going to counties that have already invested in TOD infrastructure.
Set the effective date of the Act to July 1, 2050, significantly later than typical legislative effective dates.