New Jersey A4763 mandates the Department of Community Affairs to use a Statewide growth-share calculation method for affordable housing obligations.

New Jersey A4763 establishes a Statewide growth-share calculation method for determining the present and prospective fair share of housing need in the Statewide region. This method will be based on the growth of residential and non-residential development over a 10-year period. The bill requires the Commissioner of Community Affairs to adopt necessary rules and regulations to implement these changes, including adjustments to existing deadlines under the Fair Housing Act. It also repeals sections of a previous law concerning municipal present need and housing obligations.

New Jersey A4763 mandates the Department of Community Affairs to use a Statewide growth-share calculation method for affordable housing obligations.

New Jersey A4763 establishes a Statewide growth-share calculation method for determining the present and prospective fair share of housing need in the Statewide region. This method will be based on the growth of residential and non-residential development over a 10-year period. The bill requires the Commissioner of Community Affairs to adopt necessary rules and regulations to implement these changes, including adjustments to existing deadlines under the Fair Housing Act. It also repeals sections of a previous law concerning municipal present need and housing obligations.