Requires standards for maximum development costs per unit for project supported by affordable housing trust fund.

This bill (A 3508) requires New Jersey's commissioner to establish maximum development costs per housing unit for projects funded by the state's Affordable Housing Trust Fund. It mandates these cost standards be comparable to federal Low Income Housing Tax Credit Program limits. The commissioner must adopt implementing rules within five months of the bill's enactment. This directly affects developers seeking funding through the Trust Fund, ensuring projects adhere to specified cost limits for affordability.