This bill provides tax credits to businesses that build moderate-income housing in specific distressed New Jersey municipalities. The credits cover up to 25% of qualified construction costs, capped at $1 million per project, and are claimed through a state tax application process. If the tax authority doesn’t act within 90 days, applications are automatically approved. Businesses can also sell unused credits to other taxpayers who owe tax, at a minimum of 75% of the credit value.
This bill appropriates $125 million from the General Fund to the New Jersey Affordable Housing Trust Fund (NJAHTF), restoring funding that was previously diverted under the 2026 State Budget. The funds will be used to award grants and loans for affordable housing projects and programs in municipalities that have certified compliance with their fair share housing plans. It directly affects eligible municipalities and housing developers working on projects meeting state housing requirements. The bill takes effect immediately upon enactment.
This bill allows New Jersey municipalities to count existing low- and moderate-income housing units toward their fair share obligation for affordable housing. Municipalities can receive a one-to-one credit for units built or rehabilitated between April 1980 and December 1986, provided they meet specific criteria: a certificate of occupancy, structural compliance certification, household income verification (under penalty of perjury), and affordability standards. The credit applies to units occupied by households meeting income limits and available to the public, including those in community residences for the developmentally disabled. This change modifies how municipalities calculate their affordable housing requirements under existing law, directly affecting local governments seeking to fulfill state housing obligations.
This bill authorizes a constitutional convention to reform New Jersey's property tax system, requiring two public votes: one in 2012 to approve the convention and another in 2013 to ratify its recommendations. The convention must propose revenue-neutral changes (keeping total state tax revenue the same) to reduce property tax inequities, especially for low- and moderate-income residents, while maintaining current school funding and affordable housing obligations. It mandates that the convention complete its proposals by August 2013 for voter approval in November 2013, with any statutory changes subject to future legislative review.
This bill creates a temporary seven-member "Affordable Housing Obligation Study Commission" to examine New Jersey's affordable housing policies. The commission, including the head of the state housing agency and members appointed by legislative leaders and the Governor, will study past housing practices, analyze population trends and housing needs, and gather public input over a one-year period. It must produce a final report with recommendations for municipalities and state agencies on meeting legal affordable housing requirements before expiring. The commission itself does not enact policy - it only studies existing obligations and provides findings to guide future decisions.
This bill repeals New Jersey's "Statewide Non-Residential Development Fee Act" and redirects its previously collected fees into the newly established "New Jersey Affordable Housing Trust Fund." The fund will receive money from the repealed fee system, municipal development trust funds, and other dedicated housing funds. It will finance specific affordable housing projects - including rehabilitation, accessory dwelling units, and conversions for low- and moderate-income households - in municipalities with approved housing plans or receiving state aid. The bill requires projects to be certified by municipal governing bodies and ensures housing units remain affordable for qualifying households.
This New Jersey bill requires municipalities to reserve at least 50% of affordable housing units in new developments for veterans who served in time of war or other emergency, as defined by state law. It mandates that veterans applying within the first 90 days of a project's marketing period receive priority for these units, with remaining units then open to the general public. After the initial 120-day marketing period, veterans are placed on a special waiting list to maintain the 50% reservation as units become available. The bill adds this veterans' preference to existing affordable housing requirements without altering the overall fair share obligations for low and moderate income housing.
This bill prohibits short-term rentals (like Airbnb) in exclusively residential zones unless a municipality specifically authorizes them. It directly affects property owners in residential neighborhoods and gives local governments authority to regulate such rentals through zoning. Municipalities can allow short-term rentals on up to 25% of their land area, but cannot permit them in zones zoned solely for long-term residential use. The law defines "transient accommodations" to exclude hotels, dorms, and leases longer than 90 days, while requiring rentals through platforms like Airbnb to comply with local rules. It aims to preserve housing supply and affordability by limiting short-term conversions of residential units.
This bill requires mortgage lenders in New Jersey to provide homeowners facing foreclosure with detailed written notices that include specific information about free housing counseling services. The notice must clearly explain the homeowner's right to access free counseling through the Foreclosure Mediation Program and list resources like the New Jersey Housing and Mortgage Finance Agency. It mandates that notices include contact details for local legal aid, the municipal affordable housing liaison (if applicable), and programs offering financial assistance to cure defaults. The law directly affects residential mortgage debtors and lenders, ensuring homeowners receive timely guidance to potentially avoid losing their homes. These changes amend existing foreclosure procedures under P.L.1995, c.244 and P.L.2019, c.64.
This bill requires New Jersey counties and municipalities to dedicate at least 50% of cash payments exceeding $100,000 from community benefits agreements toward affordable housing. It directly affects local governments entering such agreements with developers for commercial or residential projects, mandating that half the payment fund low- or moderate-income housing as defined by existing law. Community benefits agreements - binding deals where developers pay for community benefits in exchange for project approvals - must now allocate these funds specifically to housing creation or rehabilitation. The bill applies to all such agreements entered after its effective date, redirecting developer payments toward addressing local housing needs. It does not create new housing programs but ensures a portion of existing developer payments supports affordable housing.
