AZ HB2595

Repeals and replaces section 9-461.16 of Arizona Revised Statutes relating to municipal planning and housing development.

Allows cities and towns to require that a maximum of 20 percent of new multifamily housing units (in projects with at least 20 units) be leased as attainable residential housing for up to 20 years.

Requires municipalities adopting attainable housing requirements to offer cost-mitigation incentives to developers, including density bonuses, reduced or waived permitting fees, and expedited permitting processes.

Permits cities and towns to condition building permits on contributions to state, county, or municipal housing funds as an alternative to requiring on-site attainable units.

Defines "attainable residential housing" as new multifamily developments affordable to households earning 120 percent or less of the county median family income.