This bill amends the method for determining regional need for affordable housing in New Jersey, allowing for a more realistic assessment of fair share obligations for municipalities. It establishes that the Department of Community Affairs will calculate the prospective need for low- and moderate-income housing based on the number of certified residential housing units created in a region, excluding units that replace demolished ones. The calculation will involve dividing this number by five to determine the regional need for affordable housing over a ten-year period. Additionally, municipalities that have already committed to fair share obligations will have their obligations adjusted according to the new standards, with a 90-day period to submit amended housing plans.

The bill also allows the Commissioner of Community Affairs to revise estimates of municipal fair share obligations and deadlines for compliance, bypassing certain procedural requirements of the "Administrative Procedure Act" to expedite the process. Furthermore, it repeals the previous findings section of the Fair Housing Act, reflecting the updated approach to affordable housing obligations. Overall, the bill aims to create a more achievable framework for municipalities to meet their affordable housing needs while addressing the challenges posed by previous legal standards.

Statutes affected:
Introduced: 52:27D-304.2, 52:27D-302