Allows municipalities to establish affordable housing preference for their residents.

This bill allows New Jersey municipalities to prioritize current local residents for affordable housing units in new developments. Specifically, municipalities can agree with developers to reserve up to 50% of affordable units for residents who live in that municipality, giving them priority access during the first 90 days of a project's marketing period. After this initial window, remaining units are available to the general public. The policy aims to help low- and moderate-income residents stay in their hometowns by increasing local access to affordable housing.