Permits fair share affordable housing bonus credit for certain transitional housing reserved for occupancy by veterans.

This bill allows New Jersey municipalities to earn bonus credits toward their affordable housing requirements by including transitional housing reserved for veterans. Specifically, municipalities receive one credit and one bonus credit for each bedroom in such housing occupied by low- or moderate-income veterans for at least 10 years. Transitional housing is defined as housing with supportive services helping homeless veterans move to permanent housing within 24 months. The bill applies to veterans discharged from active military service (excluding certain court-martial discharges) who are New Jersey residents. It takes effect immediately upon enactment.