NJ A4347

Allows municipalities to count housing units built before April 1, 1980 toward their affordable housing obligations, clarifying previously ambiguous language in the Fair Housing Act

Enables credit toward unfulfilled prior round obligations if the housing unit was reserved for low- or moderate-income occupancy for 20 years or more starting after March 24, 1975

Permits credit toward prospective obligations if pre-1980 housing is reserved for low- or moderate-income occupancy under Uniform Housing Affordability Controls

Authorizes credit toward present need obligations if pre-1980 housing units are rehabilitated in compliance with Department of Community Affairs regulations

Directs the Commissioner of Community Affairs to allocate funds from the New Jersey Affordable Housing Trust Fund for repair and rehabilitation of pre-1980 housing units seeking affordable housing credit