Establishes provisions governing municipal regulation of certain mixed-use and multifamily residential development projects and conversion of certain commercial buildings to mixed-use and multifamily residential occupancy

HB 2991 allows cities to permit mixed-use residential (65%+ residential space) and multifamily residential (3+ units) developments in areas already zoned for offices, retail, or commercial use without requiring special zoning changes or extra approvals. It restricts cities from imposing stricter density limits (capping at 36 units/acre), building height rules (max 45 feet), or parking requirements (no more than one space per unit) than those applied to commercial buildings. The bill also simplifies conversions of existing commercial buildings to residential use by removing requirements for traffic studies, new parking, or utility upgrades beyond existing capacity. This directly affects developers building housing projects and city governments managing zoning regulations.