This bill allows municipalities in New Jersey to earn fair share affordable housing bonus credits for housing units specifically reserved for low- or moderate-income households that include at least one member employed as a teacher. For each qualifying unit, municipalities can receive one credit and an additional half bonus credit. The definition of a teacher is provided, encompassing individuals employed in public or non-public schools teaching from preschool through grade 12.

The legislation aims to incentivize the creation of affordable housing for teachers, thereby supporting the retention of educators in the community. The bill is set to take effect immediately upon enactment.