Authorizes port commissions, regional transit authorities, the department of social and health services, the department of corrections, the department of enterprise services, the parks and recreation commission, the department of natural resources, and the department of transportation to sell, lease, or exchange real property for less than fair market value to certain eligible organizations, or create beneficial sales terms, if the affordable housing to be developed on the property is to be occupied primarily by extremely low-income, very low-income, federally qualified low-income, or low-income households.

Authorizes local governments to sell surplus property at a discount for affordable housing if the affordable housing complies with certain guidelines.