"New Jersey Impact Fee Act"; concerns municipal authority to impose impact fee for development of real property.

This bill establishes a standardized framework for New Jersey municipalities to impose impact fees on developers for new construction projects. It requires fees to be calculated using localized data (like traffic, school enrollment, and construction costs) and mandates that collected revenue funds only new infrastructure directly tied to the development, such as roads, schools, or utilities. Municipalities must follow phased, multi-year increases for fee hikes (with public hearings for large increases) and cannot use fees for maintenance, existing debt, or retroactive projects. The law directly affects local governments (which set fees) and developers (who pay them), creating clear rules for this long-standing revenue tool.