Bill > S3453

Introduced Session

This bill provides preservation bonus credits against affordable housing obligations to certain municipalities. Under the bill, the Department of Community Affairs (DCA), in consultation with the Department of Environmental Protection (DEP) is required to designate: (1) the location of critical headwaters drinking water resources, (2) other water resources, (3) land conservation resources, (4) wildlife and habitat resources, (5) climate resilience resources, (6) historical and cultural resources, (7) community engagement and education resources, and (8) sustainable building practice resources. Under the bill, a municipality with boundaries that contain, or a municipality that sustains, such resources and that enacts regulations and commits to enforcement mechanisms to safeguard the resources would receive preservation bonus credits towards its affordable housing requirement based on formulas developed by DCA, in consultation with DEP. The formulas developed would each include different factors, as specified in the bill. The bill requires that formula factors incorporate, as applicable, evaluations of the ecological importance, the habitat diversity and biodiversity, the rarity or uniqueness, and the broader societal, cultural, recreational, educational, and aesthetic value of individual resources. The preservation bonus credits received by a municipality, as established by the bill, are to count against the 25 percent cap, under current law, on the use of bonus credits that can be applicable to the municipality's prospective need obligation in the fourth round or any subsequent round.

AI Summary

Committee Categories

Tony Bucco (R)*, 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 06/17/2024)

Official Document