New Jersey Statutes Title 45. Professions and Occupations 45 § 22A-46.5

a. During the period of time set forth in section 9 of P.L.2009, c. 82 (C.45:22A-46.11), any age-restricted development shall be eligible to be changed to a converted development, pending approving board approval, provided that the development meets all of the following conditions:

b. Any housing unit which is provided under the provisions of P.L.2009, c. 82 (C.45:22A-46.3 et seq.), and which is affordable to households of low-and moderate income, shall automatically become part of a municipal fair share plan, if applicable, and as such shall be eligible for credits to meet the municipality's obligation for affordable housing pursuant to the “Fair Housing Act,” P.L.1985, c. 222 (C.52:27D-301 et al.).

c. No affordable housing units complying with applicable Council on Affordable Housing standards or market-rate housing units associated with such a converted development shall be construed as generating any fair share affordable housing obligation for a municipality.