Provides for preservation bonus credit against affordable housing obligations to certain municipalities.

S 2451 adds a "preservation bonus credit" to New Jersey municipalities' affordable housing obligations under the Fair Housing Act. It allows municipalities to earn credit toward their required low- and moderate-income housing targets by preserving existing affordable units rather than building new ones. The bill amends Section 11 of the Fair Housing Act to include this credit as a new option for meeting housing obligations. This directly affects all New Jersey municipalities with affordable housing requirements under state law. The policy change provides a specific mechanism for municipalities to fulfill their housing obligations through preservation efforts, which was not previously available as a credited method.