Bill Text: NJ S2106 | 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 2-0)
Status: (Introduced) 2024-01-09 - Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee [S2106 Detail]
Download: New_Jersey-2024-S2106-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Senator HOLLY T. SCHEPISI
District 39 (Bergen)
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.
