This bill establishes a framework for New Jersey municipalities to enhance housing development opportunities, enabling them to qualify for preferential State funding. It empowers municipal governing bodies to instruct their planning boards to conduct special reexaminations of their master plans and development regulations. The planning boards are responsible for reviewing existing regulations related to residential development and recommending changes that may include strategies such as permitting accessory dwelling units, multi-unit dwellings, and reducing parking or lot size requirements. Any recommended changes must be reported to relevant State and county agencies, and the bill outlines the necessary processes for amending the master plan and zoning ordinances.

Additionally, the bill introduces a preference for municipalities that amend their development regulations to allow for increased housing units when applying for State grants or financial assistance. The Department of Community Affairs is tasked with establishing criteria for this preference and collaborating with other State agencies to prioritize funding for municipalities adopting these housing strategies. The bill also links housing development with educational funding by allowing increased state debt service aid for school facilities projects in municipalities that implement these amendments. Overall, the legislation aims to incentivize municipalities to adopt housing strategies that enhance residential development potential and improve funding opportunities.

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