Delays the expiration date of the property tax exemption in this act, if a review finds that at least twenty percent of new housing is developed and occupied by households earning: (1) At or below eighty percent of the area median income, at the time of occupancy, adjusted for family size for the county in which the project is located; or

(2) When the housing is intended exclusively for owner occupancy, up to one hundred fifteen percent of the area median income, at the time of sale, adjusted for family size for the county in which the project is located.