Yes. In New Jersey, 1 graduate-level semester credit is equivalent to 15 PD hours.
Because New Jersey requires 20 PD hours annually, a 3-credit course (which equates to 45 PD hours) provides more than the minimum requirement for a single year.
Many districts allow educators to use the "excess" hours from a major professional learning activity to satisfy goals across multiple years of a multi-year PDP, provided it aligns with your supervisor's approval. We recommend discussing this strategy with your supervisor during your annual PDP meeting to see if your district allows you to apply a 45-hour course toward your long-term professional learning goals.