Bill Text: NJ A251 | 2024-2025 | Regular Session | Introduced
Bill Title: Increases maximum municipal percentage of affordable fair share housing satisfied by age-restricted units to 50 percent.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Housing Committee [A251 Detail]
Download: New_Jersey-2024-A251-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman MICHAEL INGANAMORT
District 24 (Morris, Sussex and Warren)
Assemblywoman DAWN FANTASIA
District 24 (Morris, Sussex and Warren)
SYNOPSIS
Increases maximum municipal percentage of affordable fair share housing satisfied by age-restricted units to 50 percent.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning age-restricted affordable housing units and supplementing Title 45 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Notwithstanding any law, rule, or regulation to the contrary, the maximum percentage of a municipality's affordable fair share housing obligation which the municipality may meet by age-restricted units shall be 50 percent.
2. This act shall take effect immediately.
STATEMENT
This bill would establish the maximum percentage of a municipality's affordable fair share housing obligation which may be met by age-restricted units in a municipality at 50 percent. The Council on Affordable Housing adopted its third-round regulations, since partially invalidated by the courts, that reduced the percentage from 50 percent to 25 percent.
