Requires certain local government community benefit agreements dedicate resources for affordable housing purposes.

This bill (A3310) requires New Jersey counties and municipalities to dedicate at least 50% of cash payments exceeding $100,000 received through community benefit agreements to affordable housing. It directly affects local governments entering such agreements with developers for commercial or residential projects, mandating that half the funds support the creation or rehabilitation of low- or moderate-income housing as defined in existing law. The bill defines a "community benefit agreement" as a binding deal where developers pay for community resources (like housing or infrastructure) in exchange for local approval of their project. It takes effect immediately upon enactment, ensuring a significant portion of developer-funded community benefits directly addresses housing affordability needs.