This bill matters because it attempts to address water conservation and utility cost transparency in affordable housing, which are issues that directly impact residents' budgets and environmental sustainability. If this bill becomes law, it could lead to more affordable housing units being built with individual water meters, encouraging tenants to use less water because they would be directly responsible for their consumption. This could result in lower monthly utility costs for many low-income residents who are careful with their water usage, freeing up funds for other necessities.

If the bill does not become law, the existing system, where water costs are often bundled into rent or split evenly among tenants, would largely continue. This means developers would not have this specific additional tax incentive to install submeters, and tenants might not have the same level of control or transparency over their water expenses. It could also mean less progress on water conservation in this sector of housing.