Establishes Statewide residency preference for affordable housing.

This bill requires municipalities and developers to prioritize New Jersey residents for affordable housing units (low- or moderate-income) under the Fair Housing Act. It mandates that households with at least one member residing in New Jersey receive preference immediately upon establishing state residency, with no minimum residency period required. The policy applies to all qualifying housing units and takes effect five months after enactment, allowing the Commissioner of Community Affairs to prepare for implementation. This change directly affects applicants seeking affordable housing and the entities managing such housing.