NJ A306

Municipalities designated as "extensively flood-prone" by the Council on Affordable Housing (or its successor) would be fully exempt from fair share affordable housing obligations, including present, prospective, prior round, and gap period obligations

The Commissioner of Community Affairs, in consultation with the Commissioner of Environmental Protection, must adopt rules and regulations within 90 days of enactment to establish criteria for flood-prone designations

Exemption determinations would be based on flood insurance costs paid by property owners, the number of repetitive loss and severe repetitive loss properties relative to municipality size, and other relevant flood risk information

Exempt municipalities would be protected from builder's remedy lawsuits that could otherwise compel housing construction

Amends the Fair Housing Act (P.L.1985, c.222), which currently allows fair share adjustments for historic preservation and environmental factors but does not specifically address flood risk