AN ACT RELATING TO TOWNS AND CITIES -- ZONING ORDINANCES

This bill amends Rhode Island's inclusionary zoning law to require that developments with ten or more units include at least 15% affordable housing for a minimum of 30 years. It allows municipalities to offer density bonuses, such as adding two market-rate units for every affordable unit, or to accept alternative contributions like off-site construction, land donations, or fee-in-lieu payments instead of on-site affordable units. However, projects using these alternative methods are not eligible for the density bonus, and any fees collected must be deposited into restricted accounts to fund new affordable housing within the municipality. The legislation also establishes annual reporting requirements for municipalities and the state to track fee collections and the creation of affordable housing units.