This bill enables municipalities in New Jersey to enter into shared service agreements to better meet their affordable housing obligations as outlined in the "Fair Housing Act." It allows for the transfer of up to 50 percent of a municipality's fair share affordable housing obligation to another municipality, regardless of their housing region. The agreements must comply with existing legislative requirements and receive approval from the Department of Community Affairs (DCA), with a review by the Attorney General to ensure adherence to inclusionary housing standards. Additionally, municipalities are required to provide a statement of reasons for the proposal and demonstrate how their obligations will be met if the agreement is not executed.

Significant amendments to the "Fair Housing Act" include the deletion of provisions related to regional contribution agreements, which previously permitted municipalities to transfer their obligations outside their borders. The bill abolishes the Council on Affordable Housing due to its ineffectiveness and establishes a new process for municipalities to seek approval for their fair share obligations. It emphasizes the creation of age-restricted housing to address the needs of the elderly and outlines various techniques for providing low- and moderate-income housing. Furthermore, the bill mandates that receiving municipalities file annual progress reports with the DCA and empowers the DCA to enforce compliance with the shared service agreements.

Statutes affected:
Introduced: 52:27D-302, 52:27D-311, 52:27D-312