7. The council shall coordinate and review the housing elements as filed pursuant to section 11 of P.L.1985, c.222 (C. 52:27D-311), and the housing activities under section 20 of P.L.1985, c.222 (C. 52:27D-320), at least once every three years, to ensure that at least 13 percent of the housing units made available for occupancy by low-income and moderate income households will be reserved for occupancy by very low income households, as that term is defined pursuant to section 4 of P.L.1985, c.222 (C. 52:27D-304). Nothing in this section shall require that a specific percentage of the units in any specific project be reserved as very low income housing; provided, however, that a municipality shall not receive bonus credits for the provision of housing units reserved for occupancy by very low income households unless the 13 percent target has been exceeded within that municipality. The council shall coordinate all efforts to meet the goal of this section in a manner that will result in a balanced number of housing units being reserved for very low income households throughout all housing regions. For the purposes of this section, housing activities under section 20 of P.L.1985, c.222 (C. 52:27D-320) shall include any project-based assistance provided from the “New Jersey Affordable Housing Trust Fund” pursuant to P.L.2004, c.140 (C. 52:27D-287.1 et al.), regardless of whether the housing activity is counted toward the municipal obligation under the “Fair Housing Act,” P.L.1985, c.222 (C. 52:27D-301 et al.).

L.2008, c.46, s.7.