Requires additional credit against fair share obligation for abandoned property converted to affordable housing.

This bill (A494) adds a new incentive for municipalities to convert abandoned properties into affordable housing. It allows local governments to earn **two additional credit units** toward their fair share housing obligation for each affordable housing unit created on property that was previously listed as abandoned (under NJ law) and later rehabilitated. The credit applies only to units restricted for low/moderate income households on properties that were formally removed from the municipal abandoned property list after rehabilitation. This policy directly affects municipalities required to meet state-mandated affordable housing targets under the Fair Housing Act.