Declares that the purpose of this act is to: (1) Identify publicly owned land and buildings that may be suitable for the development of affordable housing for very low-income and low-income households and special needs populations;

(2) Provide public notice of state and other publicly owned land and buildings that may be suitable to be marketed, sold, leased, or exchanged for the development of affordable housing or housing for special needs populations; and

(3) Facilitate the effective use of publicly owned surplus and underutilized land and buildings suitable for the development of affordable housing for very low-income and low-income households and special needs populations by requiring that these types of surplus property to certain public agencies, commissions, and local governments be offered for an initial time period at a discount to nonprofit housing organizations and eligible public agencies for the development of affordable housing for very low-income and low-income households or housing for special needs populations.