diff --git a/CHANGELOG.md b/CHANGELOG.md
index 32c0dba..5c188bf 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 All notable changes to this project will be documented in this file.
 
+## [7.5.0](https://github.com/terraform-aws-modules/terraform-aws-autoscaling/compare/v7.4.1...v7.5.0) (2024-05-28)
+
+
+### Features
+
+* Add `allowed_instance_types` to `instance_requirements` ([#267](https://github.com/terraform-aws-modules/terraform-aws-autoscaling/issues/267)) ([09d8e0f](https://github.com/terraform-aws-modules/terraform-aws-autoscaling/commit/09d8e0fcd4536bd05208ad9226076bccf9b6178a)), closes [#265](https://github.com/terraform-aws-modules/terraform-aws-autoscaling/issues/265)
+
 ## [7.4.1](https://github.com/terraform-aws-modules/terraform-aws-autoscaling/compare/v7.4.0...v7.4.1) (2024-03-07)
 
 
diff --git a/README.md b/README.md
index 811c5c1..8c9be96 100644
--- a/README.md
+++ b/README.md
@@ -392,6 +392,9 @@ No modules.
 | <a name="output_launch_template_name"></a> [launch\_template\_name](#output\_launch\_template\_name) | The name of the launch template |
 <!-- END OF PRE-COMMIT-TERRAFORM DOCS HOOK -->
 
+## Notes
+- A refresh will not start if `launch_template_version` is set to `$Latest` when using an external launch template. To trigger the refresh when the external launch template is changed, set this to `latest_version` of that `aws_launch_template resource`.
+
 ## Authors
 
 Module is maintained by [Anton Babenko](https://github.com/antonbabenko) with help from [these awesome contributors](https://github.com/terraform-aws-modules/terraform-aws-autoscaling/graphs/contributors).
diff --git a/examples/complete/main.tf b/examples/complete/main.tf
index 39fd13f..42af079 100644
--- a/examples/complete/main.tf
+++ b/examples/complete/main.tf
@@ -512,14 +512,17 @@ module "instance_requirements" {
     accelerator_manufacturers = []
     accelerator_names         = []
     accelerator_types         = []
+    # If you specify allowed_instance_types, you can't specify excluded_instance_types
+    # allowed_instance_types = ["m*"]
 
     baseline_ebs_bandwidth_mbps = {
       min = 400
       max = 1600
     }
 
-    burstable_performance   = "excluded"
-    cpu_manufacturers       = ["amazon-web-services", "amd", "intel"]
+    burstable_performance = "excluded"
+    cpu_manufacturers     = ["amazon-web-services", "amd", "intel"]
+    # If you specify excluded_instance_types, you can't specify allowed_instance_types
     excluded_instance_types = ["t*"]
     instance_generations    = ["current"]
     local_storage_types     = ["ssd", "hdd"]
diff --git a/main.tf b/main.tf
index d94ba04..888b719 100644
--- a/main.tf
+++ b/main.tf
@@ -178,8 +178,9 @@ resource "aws_launch_template" "this" {
         }
       }
 
-      accelerator_types = try(instance_requirements.value.accelerator_types, [])
-      bare_metal        = try(instance_requirements.value.bare_metal, null)
+      accelerator_types      = try(instance_requirements.value.accelerator_types, [])
+      allowed_instance_types = try(instance_requirements.value.allowed_instance_types, null)
+      bare_metal             = try(instance_requirements.value.bare_metal, null)
 
       dynamic "baseline_ebs_bandwidth_mbps" {
         for_each = try([instance_requirements.value.baseline_ebs_bandwidth_mbps], [])
@@ -191,7 +192,7 @@ resource "aws_launch_template" "this" {
 
       burstable_performance   = try(instance_requirements.value.burstable_performance, null)
       cpu_manufacturers       = try(instance_requirements.value.cpu_manufacturers, [])
-      excluded_instance_types = try(instance_requirements.value.excluded_instance_types, [])
+      excluded_instance_types = try(instance_requirements.value.excluded_instance_types, null)
       instance_generations    = try(instance_requirements.value.instance_generations, [])
       local_storage           = try(instance_requirements.value.local_storage, null)
       local_storage_types     = try(instance_requirements.value.local_storage_types, [])