NJ S3718

Requires the Commissioner of Community Affairs to adopt regulations reducing required parking spaces at residential developments based on proximity to public transportation in New Jersey's Statewide site improvement standards.

Mandates a 50% reduction in required parking spaces for developments within one-quarter mile of public transit stations, ferry terminals, or roadways with five or more bus routes.

Establishes a 30% parking reduction for developments between one-quarter mile and one-half mile of qualifying public transportation services.

Provides a 20% parking reduction for developments between one-half mile and one mile of public transit, including NJ Transit rail and bus stations and ferry terminals.

Qualifying transit access includes municipalities with at least 15 roadside bus stops for regular motorbus routes.