This bill allows municipalities in New Jersey to adopt ordinances permitting a single exit stairway for new residential buildings classified as Group R-2 occupancy, which includes structures with sleeping units or more than two dwelling units primarily occupied by permanent residents. The bill specifies that this provision applies to buildings of no more than six stories and allows the first floor to be used for non-residential purposes, provided that such use is deemed nonhazardous by the Commissioner of Community Affairs and has separate entrances from the residential floors. The regulations will only apply to new development applications submitted after the bill's effective date.

Additionally, the bill mandates the Commissioner of Community Affairs to create and publish a regulatory guidance document that includes a model ordinance for municipalities to follow when implementing this new provision. The bill is set to take effect on the first day of the fourth month following its enactment, although the Commissioner is authorized to take necessary anticipatory actions to implement its provisions.