Excludes flood-prone land from affordable housing vacant land analysis; provides housing obligation cap.

This bill modifies New Jersey's affordable housing requirements by excluding flood-prone and environmentally sensitive land from vacant land calculations used to determine housing obligations. It directly affects municipalities by allowing them to disregard certain land types - such as conservation areas, historic sites, and lands below flood elevation - when assessing available resources for affordable housing projects. The legislation also establishes a cap on housing obligations for municipalities that lack sufficient vacant land and removes the Council on Affordable Housing, shifting responsibility to local governments to calculate their housing needs. Additionally, the bill provides municipalities with immunity from exclusionary zoning lawsuits if they meet specific deadlines for determining housing obligations.