Bill > S4364

This bill establishes a system where municipalities can receive preferential treatment for certain State funding, referred to as "financial assistance competitively awarded by the State," if they take steps to encourage more housing development. Municipalities can direct their planning boards to review and potentially amend their master plans and development regulations to allow for more housing, such as permitting accessory dwelling units, two-unit dwellings, reducing parking requirements, or allowing multi-unit dwellings in commercial zones. If a municipality makes these changes, the Department of Community Affairs (DCA) will create a list of eligible municipalities, categorized by the impact of their changes, which State agencies awarding competitive grants will then use to prioritize these municipalities. Additionally, the Commissioner of Transportation will consider this housing development effort when allocating funds for municipal projects, and school districts located in municipalities that have made these changes may receive increased State aid for school facilities projects. The bill also clarifies what types of State funding are considered "competitively-awarded financial assistance" and excludes certain aid programs.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2024/S4364