The bill amends Section 11 of P.L.1985, c.222 (C.52:27D-311) to establish a preservation bonus credit system for municipalities that protect critical environmental and cultural resources. Municipalities can earn these credits based on formulas developed by the Department of Community Affairs (DCA) in consultation with the Department of Environmental Protection (DEP). The resources eligible for preservation include critical headwaters, wildlife habitats, and historical sites. The legislation encourages municipalities to implement regulations and enforcement mechanisms to safeguard these resources, with the potential for increased bonus credits for effective preservation efforts.

In addition to the preservation credits, the bill outlines various types of credits for low- and moderate-income housing, including those created through partnerships with non-profit developers and units located near public transportation. It also introduces veterans' preferences in affordable housing applications and allows municipalities to amend their housing elements without losing immunity from exclusionary zoning litigation. Furthermore, the bill sets limits on age-restricted housing and mandates that at least 50 percent of affordable units be suitable for families with children, aiming to balance the need for affordable housing with the preservation of vital community resources.

Statutes affected:
Introduced: 52:27D-311