Reduces required parking spaces in residential developments based on proximity to public transportation.

This bill requires the Commissioner of Community Affairs to adopt regulations reducing required parking spaces in Statewide site improvement standards. It mandates a 20 percent reduction in parking spaces between one mile and one-half mile of public transportation, a 30 percent reduction between one-half mile and one-quarter mile, and a 50 percent reduction within one-quarter mile. The reductions apply to developments near rail, motorbus, and ferry services.

Reduces required parking spaces in residential developments based on proximity to public transportation.

This bill requires the Commissioner of Community Affairs to adopt regulations reducing required parking spaces in Statewide site improvement standards. It mandates a 20 percent reduction in parking spaces between one mile and one-half mile of public transportation, a 30 percent reduction between one-half mile and one-quarter mile, and a 50 percent reduction within one-quarter mile. The reductions apply to developments near rail, motorbus, and ferry services.