"NJ Governor Signs Landmark Affordable Housing Overhaul Bill to Ease Housing Crisis"

New Jersey Governor Phil Murphy signed a bill that will overhaul the process for determining where affordable housing should be built, renovated, or zoned over the next decade, replacing the previous drawn-out lawsuits. The bill codifies a formula to help towns determine the number of units needed to fulfill the constitutional mandate to provide their "fair share" of homes for low- and moderate-income families. The law also creates a dispute resolution program in the courts and new bonus credits for certain types of housing, while maintaining a ban on regional contribution agreements and abolishing the non-functioning Council on Affordable Housing. The bill aims to streamline the process, save costs for towns, and increase affordable housing production in New Jersey.