This New Jersey bill creates a refundable tax credit for renters whose rent exceeds 35% of their gross income. It directly affects low-to-moderate income residents (earning $60,000 or less annually) who live in their primary home and pay rent above that threshold. The credit amount varies: 100% of excess rent (up to $1,000) for those earning under $50,000 in high-cost areas or under $25,000 elsewhere; 75% for those earning $25,000-$60,000; and 50% for higher earners outside high-cost areas. The credit applies retroactively to the previous tax year, requiring eligible taxpayers to file amended returns within 90 days of the bill's enactment to claim it.
This bill (A 3508) requires New Jersey's commissioner to establish maximum development costs per housing unit for projects funded by the state's Affordable Housing Trust Fund. It mandates these cost standards be comparable to federal Low Income Housing Tax Credit Program limits. The commissioner must adopt implementing rules within five months of the bill's enactment. This directly affects developers seeking funding through the Trust Fund, ensuring projects adhere to specified cost limits for affordability.
This bill extends the deadline for municipalities to submit their midpoint status reports on affordable housing compliance by one year. It directly affects New Jersey municipalities required to follow the Fair Housing Act (P.L.1985, c.222) and related settlement agreements. The key provision amends existing law to add a one-year extension after the midpoint review date, allowing more time for municipalities to report on their housing element implementation. This change responds to pandemic-related delays in municipal operations, as noted in the bill's statement. The extension applies to all municipalities with active housing element compliance obligations.
This bill allows New Jersey municipalities to establish preferences for low- and moderate-income residents when allocating affordable housing units in new developments. Specifically, it permits municipalities to create a 50% preference for veterans who served in wartime or emergencies for affordable units, granting them priority during the first 90 days of a 120-day marketing period. The preference applies to units designated as affordable under municipal housing plans, with veterans placed on a special waiting list if units remain available after the initial period. This change directly affects veterans seeking affordable housing and gives municipalities new tools to implement housing preferences.
This New Jersey bill (A 2964) changes how municipalities calculate their obligation to provide low and moderate income housing. It requires each municipality to base its housing need calculation on the actual percentage of households in its area that are low/moderate income (using census data), setting a new 20% threshold for compliance. Municipalities falling below this threshold must develop additional affordable housing to reach 20%, with senior housing units counting toward up to 60% of the required affordable stock. The law revises housing statutes to implement this calculation method and exempts municipalities meeting the 20% standard from builder's remedy penalties.
The New Jersey Workforce Housing Partnership Act (S 1830) creates a state program to help middle-income workers - like teachers, first responders, and healthcare professionals - afford homes by incentivizing employers to provide homebuyer assistance. It provides $55 million for a Workforce Housing Assistance Program that matches employer down payment help and offers low-interest mortgages, while giving tax credits to businesses that develop affordable housing for employees. The bill also includes affordability protections ensuring housing remains accessible to residents earning up to 120% of the area median income and encourages municipalities to repurpose vacant commercial spaces into workforce housing through zoning flexibility.
This bill amends New Jersey's affordable housing law to permit municipalities to establish a preference for low and moderate income veterans who served during wars or emergencies in affordable housing projects. It allows cities and towns to agree with developers to reserve up to 50% of affordable units for these veterans, giving them priority during the first 90 days of a project's marketing period. After the initial 90 days, remaining units become available to the general public until the end of a 120-day marketing period. Veterans who qualify are placed on a special waiting list to maintain the preference level as units become available, without requiring municipalities to adopt this preference.
This bill (S 2708) revises New Jersey's foreclosure sale procedures to better protect homeowners and nonprofit community development corporations. It requires sheriffs to hold sales within 150 days, sets strict rules for notifying buyers about "upset prices" (with a 3% maximum increase), and prohibits lenders from delaying sales when nonprofits or homeowners intend to participate. Key provisions include a reduced 3.5% deposit requirement for qualifying buyers (such as nonprofits, tenants, or homeowners who will occupy the property for 84+ months) and mandates that lenders disclose property occupancy status before sale. These changes directly affect sheriffs conducting sales, lenders initiating foreclosures, homeowners facing eviction, and nonprofit community development corporations seeking to preserve affordable housing.
This bill (S 1691) requires New Jersey state agencies to prepare and publicly share specific impact statements before adopting new rules. It mandates agencies to include socio-economic impact assessments, jobs impact analyses, agricultural industry effects, housing affordability evaluations, smart growth development reviews, and racial/ethnic community justice impact statements. These statements must be published in the New Jersey Register and made available online alongside proposed rules. The bill directly affects all state agencies creating new regulations and ensures the public receives clear, accessible information about potential economic and community impacts before rules take effect.
New Jersey bill S 1097 would allow municipalities to count each unit of transitional housing occupied by a veteran as 1.5 units toward their state-mandated affordable housing obligation. This applies to transitional housing with supportive services that helps veterans move to permanent housing within 24 months, requiring affordability for veterans for at least 10 years. The bill directly affects local governments (municipalities) by providing a new credit mechanism to meet housing requirements and veterans accessing transitional housing. It amends existing law (P.L.1985, c.222) to specifically include qualifying veteran housing in fair share calculations.
