S 3103 New Jersey Senate · 2026-2027 Regular Session

Dedicates 50 percent of revenues collected from additional fees and taxes imposed on real property transfers valued over $1 million to Affordable Housing Trust Fund.

This bill directs 50% of revenue from fees and taxes on real property transfers exceeding $1 million (applied to sellers of residential, commercial, and certain other high-value properties) to the New Jersey Affordable Housing Trust Fund. Instead of depositing these funds into the General Fund as current law requires, the bill mandates they support affordable housing programs. The change takes effect July 1 following enactment, with the Trust Fund managing these dedicated resources for housing initiatives.

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 · 2 edits · Jan 13, 2026

MINOR

The bill moved from technical review status to introduced status, and a statement section was added describing the bill's purpose. The statement clarifies that the bill directs 50 percent of revenues from additional taxes and fees on real property transfers over $1 million to the New Jersey Affordable Housing Trust Fund, rather than depositing all such revenues into the General Fund as under current law.

SCOPE

A statement section was added explaining that 50 percent of revenues from additional real property transfer taxes and fees (on transfers over $1 million) would be annually deposited into the New Jersey Affordable Housing Trust Fund to support affordable housing appropriations, instead of all such revenues going to the General Fund.

TECHNICAL

The bill 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 a procedural stage change rather than a substantive policy modification.

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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 · 5 co-sponsors