"New Jersey Transit Villages Act."

The New Jersey Transit Villages Act encourages municipalities to create compact, mixed-use communities centered around transit hubs within a half-mile radius. It requires municipalities to adopt transit village plan elements in their master plans, promoting higher density development, pedestrian and bicycle infrastructure, and reduced parking for single-occupancy vehicles. The bill offers incentives like tax credits for developers, priority funding for transit projects, and expedited permitting to support these developments. This policy aims to reduce automobile dependency, increase transit ridership, and provide more affordable housing options in areas near transit. The bill codifies an existing transit village initiative by the state transportation agency and provides up to $10 million annually for implementation.