The department shall establish a program to make grants and loans for the purpose of improving the ability to accelerate the approval of affordable workforce housing as defined in N.H. Rev. Stat. § 674:58, IV, and other types of housing determined by the department to be important for the economic development of the state. Grants and loans may be made by the department to municipalities and to housing developers in which at least 20 percent of the housing units to be developed will be affordable for a period of at least 10 years. Such units will be affordable to and intended for occupancy by households with incomes up to 80 percent of the area median income, as established by the U.S. Department of Housing and Urban Development. The program shall be known as the InvestNH Program. The department shall adopt rules pursuant to N.H. Rev. Stat. Chapter 541-A to implement the provisions of this subdivision no later than July 1, 2024.