NJ S4736

Religious organizations and tax-exempt nonprofits can convert their nonresidential properties into inclusionary housing developments as a permitted use without requiring a use variance from municipal planning boards

At least 20% of residential units must be reserved for very-low, low-, or moderate-income housing, with at least 50% of affordable units designated as low-income and 13% of those as very-low income units

Qualifying developments are allowed density of 40 units per acre and one story above the maximum height normally permitted in the zoning district, or higher if adjacent properties allow greater density/height

Projects are eligible for long-term tax exemptions under the Long Term Tax Exemption Law and may apply for additional tax incentives, financing, or grants

Municipal planning boards must approve qualifying applications regardless of the property's location in the municipality if the project meets the bill's zoning and affordability requirements