Establishes "Security Deposit Assistance Pilot Program" in Passaic, Union, Essex, Hudson, Gloucester, Atlantic, Burlington, Camden, and Mercer counties; appropriates $450,000.

S 1050 establishes a "Security Deposit Assistance Pilot Program" in eight New Jersey counties (Passaic, Union, Essex, Hudson, Gloucester, Atlantic, Burlington, Camden, and Mercer) to help low-income renters pay security deposits. The program allows eligible households (those qualifying for "very low income housing" under state law) to pay 1/12 of their security deposit monthly for 12 months instead of a full upfront payment, with a letter of commitment replacing the deposit. If tenants violate leases, the $450,000 appropriated fund reimburses landlords for unpaid portions (up to actual damages), requiring tenants to repay the fund later. Landlords cannot refuse tenancy due to program participation, which violates anti-discrimination law. The pilot runs for at least three years with a report due after 36 months.