Provides municipality with affordable housing credit toward its municipal fair share housing obligation for funds transferred to the New Jersey Affordable Housing Trust Fund pursuant to P.L.2008, c.46.

This bill allows New Jersey municipalities to earn credits toward their state-mandated affordable housing requirement by transferring unspent development fees to the New Jersey Affordable Housing Trust Fund. Specifically, if a municipality fails to spend collected fees within four years, it must transfer the remaining balance to the state fund and receives one credit per unit toward its housing obligation. The fees - collected from residential developers - must be used for approved affordability programs like down payment assistance, rent subsidies, or low-income unit affordability measures, with no more than 20% allocated to administration. It directly affects all New Jersey municipalities required to meet fair share housing goals under state law.