STATEMENT TO

ASSEMBLY COMMITTEE SUBSTITUTE FOR

ASSEMBLY, No. 2267

with Senate Floor Amendments

(Proposed by Senator SINGLETON)

ADOPTED: MARCH 18, 2024

      These Senate floor amendments allow, notwithstanding provisions of any law to the contrary, that funds appropriated to the New Jersey Housing and Mortgage Finance Agency (agency) that are remaining and unencumbered funds pursuant to P.L.2021, c.133 may be utilized for investment, financing, and facilitating housing opportunities for low- and moderate-income families, older adults, and individuals with specialized housing needs under the bill’s Risk Share Pilot Program (program).  The amendments further specify that an amount not to exceed $5,000,000 is to be deposited in the Affordable Housing Insurance Fund for use pursuant to the program.