Requires certain local government community benefit agreements dedicate resources for affordable housing purposes.

This bill requires New Jersey counties and municipalities to dedicate at least 50% of cash payments exceeding $100,000 from community benefits agreements toward affordable housing. It directly affects local governments entering such agreements with developers for commercial or residential projects, mandating that half the payment fund low- or moderate-income housing as defined by existing law. Community benefits agreements - binding deals where developers pay for community benefits in exchange for project approvals - must now allocate these funds specifically to housing creation or rehabilitation. The bill applies to all such agreements entered after its effective date, redirecting developer payments toward addressing local housing needs. It does not create new housing programs but ensures a portion of existing developer payments supports affordable housing.