Requires additional credit against fair share obligation for abandoned property converted to affordable housing.

This bill allows New Jersey municipalities to count existing low- and moderate-income housing units toward their fair share obligation for affordable housing. Municipalities can receive a one-to-one credit for units built or rehabilitated between April 1980 and December 1986, provided they meet specific criteria: a certificate of occupancy, structural compliance certification, household income verification (under penalty of perjury), and affordability standards. The credit applies to units occupied by households meeting income limits and available to the public, including those in community residences for the developmentally disabled. This change modifies how municipalities calculate their affordable housing requirements under existing law, directly affecting local governments seeking to fulfill state housing obligations.