S 1803 New Jersey Senate · 2026-2027 Regular Session

Expands financing opportunities for low and moderate income housing.

S 1803 expands financing options for affordable housing projects in New Jersey by broadening the definition of "eligible loans" to cover a wider range of housing types, including multi-family units, boarding houses (with specific exclusions), continuing-care retirement communities, assisted living, and mobile homes. It explicitly allows loans to finance related services like parking, utilities, community facilities, and life safety improvements in boarding houses, certified by the Department of Community Affairs. This bill directly affects low and moderate-income housing sponsors (developers, nonprofits, or for-profit entities) seeking funding for projects that provide residential housing. The key change is streamlining access to financing for diverse affordable housing models through the New Jersey Housing and Mortgage Finance Agency. The bill is currently pending in the Senate Community and Urban Affairs Committee.

Issues: ✓ Housing

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 13, 2026 Last action Jun 1, 2026

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What changed between versions

Technical Review Of Prefiled Bill → Introduced · 3 edits · Jan 13, 2026

MINOR

The bill moved from its Senate committee technical review stage to formal introduction. The only substantive addition is a new Statement section at the end that summarizes the bill's purpose: revising Housing and Mortgage Finance Agency laws to encourage participation by minority-, women-, and veteran-owned development firms, allow bonding requirements to be satisfied via letter of credit, and make procedural changes. All other changes are technical (line reflow, capitalization fixes, status label updates).

TECHNICAL

A formal Statement section was added at the end of the bill summarizing its purpose: encouraging minority-, women-, and veteran-owned business participation in affordable housing programs, allowing bonding requirements to be met through a valid letter of credit or traditional performance bonding, and making procedural changes to agency operations.

Status changed from 'As reported by the Senate Community and Urban Affairs Committee with Technical Review' to 'Introduced Pending Technical Review by Legislative Counsel,' reflecting the bill's progression through the legislative process.

Minor formatting changes including capitalization of 'New Section' and line reflowing of existing text in sections 3 and 7, with no change to substantive content.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jun 1, 2026

Committee

Referred to Senate Budget and Appropriations Committee

upper

Jan 13, 2026

Introduced

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee

upper

2 primary · 0 co-sponsors