Expressly permits housing constructed prior to April 1, 1980 to be counted toward municipal affordable housing obligation.

This bill allows New Jersey municipalities to count existing housing built before April 1, 1980, toward their affordable housing requirements under specific conditions. To qualify, the housing must have been reserved for low- or moderate-income residents for at least 20 consecutive years starting after March 24, 1975, and cannot have already been counted toward another obligation. Municipalities can apply this credit toward past, future, or current housing obligations - especially if the property is rehabilitated to meet affordability standards. The bill directly affects local governments and existing low/moderate-income housing units, easing compliance with state housing mandates without requiring new construction.