This bill establishes a framework for New Jersey municipalities to enhance housing development opportunities and receive preferential treatment in state funding. It empowers municipal governing bodies to instruct their planning boards to conduct special reexaminations of their master plans and development regulations, aiming to identify changes that would facilitate increased residential development. Proposed strategies include permitting accessory dwelling units, reducing parking and lot size requirements, and allowing higher density housing near transit stops. Planning boards are required to prepare reports on their findings and submit them to relevant authorities.

Furthermore, the bill mandates that the Department of Community Affairs prioritize municipalities that amend their development regulations to incorporate these housing strategies when awarding grants or financial assistance. It also allows for increased state debt service aid for school facilities projects in municipalities that adopt these strategies, incentivizing local governments to enhance their housing policies. The bill outlines a maximum increase of 10 percent in district aid for school facilities based on the number of additional housing units permitted, and it tasks the Commissioners of Education and Community Affairs with developing a uniform methodology for determining this aid increase.

Statutes affected:
Introduced: 18A:7G-9, 18A:7G-15