This bill amends the method for determining regional need for affordable housing in New Jersey, aiming to create more realistic and achievable fair share obligations for municipalities. It directs the Department of Community Affairs to calculate the prospective need for low- and moderate-income housing based on the number of certified residential housing units created in each region, excluding units that replace demolished ones. The calculation will involve dividing this number by five to establish 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 set forth in the bill, with a 90-day period allowed for them to file 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 seeks to alleviate the burdens placed on municipalities by ensuring that housing obligations are grounded in current market realities and are more manageable for local governments.

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