Authorizes shared service agreements to facilitate provision of affordable housing.

This bill authorizes New Jersey municipalities to enter into shared service agreements with other municipalities to transfer portions of their affordable housing obligations. Municipalities can transfer up to 50% of their obligation to any one receiving municipality, and these agreements can be made across housing regions, not just within them. The agreements must be approved by the Department of Community Affairs, which reviews them to ensure they provide affordable housing near employment opportunities. Sending municipalities must make annual payments to the Department of Community Affairs, which forwards funds to receiving municipalities after Attorney General approval. This provides a new regional cooperation mechanism for municipalities to meet their affordable housing requirements under the Fair Housing Act.