This bill amends Section 11 of P.L.1985, c.222 (C.52:27D-311) to establish preservation bonus credits for municipalities in New Jersey that protect critical environmental and cultural resources. Municipalities can earn these credits based on specific criteria developed by the Department of Community Affairs (DCA) in consultation with the Department of Environmental Protection (DEP). The criteria include the preservation of water resources, wildlife habitats, and historical sites, among others. The aim is to incentivize municipalities to safeguard these resources while addressing their affordable housing obligations.

Furthermore, the bill introduces a provision that allows municipalities to receive one credit for each unit of low- or moderate-income housing, with the possibility of additional bonus credits under certain conditions. It deletes a previous provision that allowed for multiple types of bonus credits for a single unit and limits the use of bonus credits to no more than 25 percent of a municipality's affordable housing obligation. The legislation also specifies that municipalities cannot meet more than 30 percent of their affordable housing units through age-restricted housing and must ensure that at least 50 percent of the units are available for families with children. Additionally, municipalities are not mandated to fund infrastructure improvements beyond what is outlined in their fair share plans.

Statutes affected:
Introduced: 52:27D-311