RI H7153

Amends the fee-in-lieu calculation for inclusionary zoning by changing the per-unit fee from the difference between maximum affordable sales price and average development cost to 150% of the cost of developing a single unit of affordable housing

Average development cost is determined annually based on per-unit costs of affordable homes financed by Rhode Island Housing and Mortgage Finance Corporation over the previous 3 years, excluding preservation financing units

Maintains a minimum per-unit fee floor of $40,000 for affordable single-family homes and condominium units

Takes effect upon passage