Bill
Bill > A5293
NJ A5293
NJ A5293Provides for preservation bonus credit against affordable housing obligations to certain municipalities.
summary
Introduced
02/10/2025
02/10/2025
In Committee
02/10/2025
02/10/2025
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
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
This bill provides a new mechanism for municipalities to earn preservation bonus credits against their affordable housing obligations by protecting and preserving various critical resources. Specifically, the bill allows municipalities to receive bonus credits if they contain or sustain and protect resources such as critical drinking water headwaters, water resources, land conservation areas, wildlife habitats, climate resilience zones, historical and cultural sites, community engagement resources, and sustainable building practice areas. The Department of Community Affairs (DCA), in consultation with the Department of Environmental Protection (DEP), will develop formulas to calculate these preservation bonus credits based on factors like ecological importance, biodiversity, rarity, and broader societal value. Municipalities must enact and commit to enforcing regulations that safeguard these resources to qualify for the credits. These preservation bonus credits would count towards the existing 25 percent cap on bonus credits that can be applied to a municipality's affordable housing obligation. The bill aims to incentivize environmental protection and sustainable development by linking it to affordable housing compliance, encouraging municipalities to take proactive steps in preserving and managing critical local resources.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly Housing Committee (on 02/10/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A5293 |
| BillText | https://pub.njleg.gov/Bills/2024/A5500/5293_I1.HTM |
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