NH SB471

Authorizes municipalities to adopt affordable housing investment fee ordinances as part of innovative land use controls, imposing fees on developments that do not meet local inclusionary zoning requirements

Requires all collected fees to be held in a separate account from the general fund and used solely for investment in affordable housing within the municipality

Fees may only be expended to the NH Housing Finance Authority, Community Development Finance Authority, municipal housing authorities, or qualified non-profits registered with the Secretary of State

Fees are assessed at planning board approval of subdivision or site plan and collected when a certificate of occupancy is issued, with provisions for alternative payment schedules and security measures

Municipalities must prepare an annual report within 60 days of fiscal year end listing all affordable housing investment fee expenditures