This bill establishes a framework for New Jersey municipalities to enhance housing development opportunities and qualify for preferential State funding. It empowers municipal governing bodies to instruct planning boards to conduct special reexaminations of their master plans and development regulations, with a focus on increasing residential development potential. The planning boards are responsible for reviewing existing regulations and recommending changes, which may include strategies such as permitting accessory dwelling units, reducing parking and lot size requirements, and allowing higher density housing near transit stops. Municipalities that adopt these changes will receive priority for State aid and financial assistance.

Furthermore, the bill mandates that the Department of Community Affairs and other State agencies establish preferences for municipalities that amend their development regulations to increase housing unit availability. It also includes provisions for the Commissioner of Transportation to prioritize funding for municipal projects in these municipalities. Additionally, the bill amends existing laws to allow for increased state debt service aid for school facilities projects in municipalities that adopt the proposed housing strategies, incentivizing local governments to enhance their housing policies. The bill aims to create a systematic approach to encourage municipalities to revise their master plans and zoning ordinances to support residential development.

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