CA AB2433

Renames California's "Density Bonus Law" as the "Affordable Homes Bonus Program" and changes the process from applicants seeking bonuses to cities automatically determining eligibility when housing applications meet affordability criteria

Increases the number of incentives or concessions developers can receive: from 1 to 3 for basic qualifying projects, from 2 to 4 for mid-tier projects, from 3 to 5 for higher affordability projects, and from 5 to 7 for 100% affordable developments

Allows developers to use a site's entire floor area ratio for residential purposes when calculating base density, expanding how density bonuses can be calculated beyond the current dwelling-units-per-acre method

Makes housing developments that qualify for both CEQA exemptions and the Affordable Homes Bonus Program subject to ministerial review as a "use by right," eliminating discretionary approval requirements

Requires local government meeting agendas to clearly label items as "affordable homes bonus project" or "density bonus project" when discussing eligible housing developments