(1) For purposes of this section:

(a) Local government means any city, village, or county or any agency or subdivision of a city, village, or county; and

(b) Ordinance means any local law, including, but not limited to, any ordinance, resolution, rule, or regulation.

(2) Except as expressly permitted by other state law or by subsection (3) of this section, a local government shall not have the power to enact or enforce any ordinance which would have the effect of imposing rent controls on private property.

(3) This section does not apply to an ordinance that:

(a) Is adopted for the purposes of increasing the supply of affordable housing and that does so through land-use or inclusionary housing requirements; or

(b) Provides for a program that a private property owner voluntarily and contractually agrees to participate in and that restricts rent and rent increases.

(4) This section applies notwithstanding the provisions of any home rule charter.

(5) Any ordinance in violation of this section is null and void.