Bill > A4913

This bill establishes a framework to incentivize municipalities in New Jersey to enhance housing development opportunities by offering preferential treatment in state financial assistance. The legislation allows municipal planning boards to conduct a special reexamination of their master plans and development regulations, with the goal of increasing housing units through various strategies such as permitting accessory dwelling units, reducing parking requirements, eliminating minimum lot sizes, allowing multi-unit dwellings in previously restricted areas, and enabling higher density housing near transit stops. Municipalities that adopt these housing strategies will be eligible for increased preference when applying for competitively-awarded state financial assistance across different state agencies, including potential increases in transportation funding and school district aid percentages. The bill directs the Department of Community Affairs to create a tiered list of municipalities based on their housing strategy implementations, which state agencies can use to prioritize funding allocations. Additionally, the legislation requires municipalities to submit documentation of their housing regulation changes and provides a mechanism for the state to evaluate and recognize these efforts to expand housing development potential.

Budget and Finance, Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2024/A4913