S 3410 establishes the "Entry-Level Home Development Fund" with a $300 million appropriation to provide gap financing for developers building low- to middle-income housing. The fund, administered by the New Jersey Housing and Mortgage Finance Agency, covers financing shortfalls that prevent developers from constructing housing affordable to households earning up to 120% of the area median income. This program directly supports developers of qualifying projects and aims to increase housing supply for low- to middle-income residents who face affordability challenges due to high prices and limited inventory. The bill defines "low- to middle-income housing" as units reserved for households meeting specific income thresholds, without mandating additional requirements for project locations or developer types.
This bill allows New Jersey municipalities to earn extra credit toward their affordable housing requirements by reserving units for low- or moderate-income teachers. Specifically, each housing unit reserved for a teacher household earns one full credit plus half a bonus credit. The bill defines "teacher" broadly as anyone employed to teach pre-K through 12th grade in public or private schools. It takes effect immediately upon enactment.
This bill, "The Manufactured Home Park Protection Act" (A-790), gives residents in certain manufactured home communities (with 10+ sites) the right to buy their land before the landowner sells to outsiders. It requires landowners to notify resident homeowners and a state-listed registry of affordable housing nonprofits when selling the community. Residents can form groups or purchase entities to collectively buy the land, with the Department of Community Affairs maintaining a public list of nonprofits ready to assist. The bill modifies existing law to prioritize resident ownership and prevent displacement in these communities. (Note: The bill was withdrawn after being superseded by P.L.2025, c.362.)
This bill (A 3016) allows New Jersey municipalities to reserve affordable housing units specifically for low- and moderate-income veterans, counting each such unit as a full credit toward the municipality's required affordable housing obligation. It defines "veteran" broadly (including those discharged with military pay) and specifies that units in facilities like Veterans Haven or transitional housing for homeless veterans qualify. The bill amends existing law to ensure these veteran-reserved units receive full credit, similar to other affordable housing units, without requiring additional municipal funding. It directly affects municipalities responsible for meeting housing obligations and veterans seeking affordable housing.
This bill imposes an annual $20,000 tax on entities owning more than 20 single-family homes in New Jersey as of the last day of the tax year. It targets large investors like hedge funds, private equity firms, and real estate investment trusts (REITs), but excludes nonprofits, homeowners who build/rehab homes, and owners of federally subsidized housing. Revenue from this tax will fund down payment assistance programs for first-time homebuyers seeking family ownership. The tax applies to each home above the 20-home threshold, with reporting due quarterly and specific exemptions for certain sales or ownership reductions.
This bill bans landlords from using credit scores or credit reports to screen applicants for affordable housing programs. It directly affects low- and moderate-income renters applying for subsidized housing or units restricted to income-eligible households. The law requires landlords to conduct individualized assessments of applicants' ability to pay rent, rather than relying on credit scores, which often unfairly reject tenants facing financial hardship. It also defines key terms like "affordable housing applicant" and specifies income thresholds based on rent share, not total rent.
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.
