Authorizing cities and towns in the metropolitan area to adopt inclusionary housing policies to encourage affordable rental housing and affordable homes development, specifying certain policy content requirements; authorizing and providing for submittal of the policies to the metropolitan council for certification; creating the metropolitan inclusionary housing account in the metropolitan livable communities fund for metropolitan council grants or loans to cities and towns participating in the program for assistance purposes; requiring council grant preferences for the use of TEA-2 (transportation equity act for the 21st century), for metropolitan urban service area (MUSA) sewer lines extensions and for sewer and transportation investments; appropriating money to the council for the grants or loans and for marketing qualifying developments to communities of color (mk)