This bill allows municipalities in New Jersey to earn fair share affordable housing bonus credits for housing units that are reserved for low- or moderate-income households, provided that at least one member of the household is a teacher at the time of initial occupancy. Specifically, municipalities can receive one credit and an additional half bonus credit for each qualifying unit. The bill defines a "teacher" as an individual employed in either 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 educational workforce and addressing housing needs within communities. The bill is set to take effect immediately upon enactment.