NJ S3255

Allows the Commissioner of Community Affairs to exempt municipalities designated as "extensively flood-prone" from all fair share affordable housing obligations, including present, prospective, prior round, and gap period obligations.

Requires the Commissioner of Community Affairs, in consultation with the Commissioner of Environmental Protection, to adopt rules and regulations within three months of enactment to determine which municipalities qualify for the flood-prone exemption.

Bases the "extensively flood-prone" designation on flood insurance payments by property owners, the number of repetitive loss and severe repetitive loss properties relative to municipality size, and other relevant information.

Protects exempt municipalities from builder's remedy lawsuits that could otherwise compel housing construction to meet affordable housing requirements.