A 4691 New Jersey General Assembly · 2024-2025 Regular Session

Makes supplemental appropriation of $100 million to Affordable Housing Production Fund in DCA for completion of 100-percent affordable housing projects.

This bill provides an additional $100 million in state funding to New Jersey's Affordable Housing Production Fund, managed by the Department of Community Affairs. The funds will specifically support the completion of 100-percent affordable housing projects, where all residential units must be reserved for low- and moderate-income households. Municipalities will use this money to contract with developers to finish projects already identified in their fair share affordable housing obligations. This supplemental appropriation builds on existing law (P.L.2022, c.49) to accelerate housing availability for income-qualified residents.
Bill status in committee 1 of 4 stages cleared
Introduction
Sep 2024
Committee Review
Floor Vote
Governor
Introduced Sep 12, 2024 Last action Sep 12, 2024
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Sep 12, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Housing Committee
lower
2 primary · 2 co-sponsors

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