Be it enacted by the Legislature of the State of New Jersey that municipalities shall establish an expedited review process for mixed-income residential or mixed-use development located within one-half mile of a rail station, major bus hub, or ferry terminal, with projects receiving priority eligibility for State housing, infrastructure, and brownfield remediation funds if they set aside not less than 20 percent of units as affordable to low- and moderate-income households, provide a tenant anti-displacement plan including right-to-return and relocation assistance for directly displaced residents, and make use of vacant, blighted, or remediated brownfield parcels where practicable; the Department of Community Affairs, in consultation with the Economic Development Authority and Department of Environmental Protection, shall issue model standards, permit coordination guidance, and annual compliance reporting requirements to implement this act.