There shall be established, under the Department of Housing and Community Development, a commission to research and establish regional housing production goals to meet a statewide housing need of no less than 430,000 new housing units by the year 2030.

The department shall work with; regional housing non-profit organizations, municipalities, municipal planning organizations, regional housing authorities, regional transportation authorities, the Department of Transportation, municipal transportation authorities, and local private or public institutions of higher education to identify and set housing production regions and to report within one year to the legislature on recommendations that: (i) identify regional housing production needs; (ii) set regional housing productions goals; (iii) devise funding mechanisms for housing production projects; (iv) outline tax, subsidy, or other incentives for municipalities or regions to meet said goals; (v) improve the permitting process for such housing production projects; (v) outline optimal residential development zoning codes for housing production; and (v) better set housing affordability standards.