SENATE COMMUNITY AND URBAN AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 2390

STATE OF NEW JERSEY

DATED:  MAY 6, 2024

      The Senate Community and Urban Affairs Committee reports favorably Assembly Bill No. 2390.

      This bill requires the Department of Community Affairs (DCA) and the New Jersey Economic Development Authority (EDA) to give priority consideration to municipalities that are in compliance with their affordable housing obligations in awarding grants or other financial assistance through the Main Street New Jersey Program, Neighborhood Preservation Program, or any other program administered by the DCA or the EDA through which monies are provided to a municipality via a competitive process.  The bill’s provisions would not apply to grants or financial assistance intended to help a municipality fulfill its affordable housing obligation. 

      For the purposes of the bill, the Department of Community Affairs would consider, at a minimum, the following in determining a municipality’s compliance in the first five years after a new round of affordable housing obligations begin: prior round builder’s remedy lawsuits, prior round fair share settlements, the percentage of fulfilled obligation, and any other factor deemed relevant by the department.

      As reported by the committee, Assembly Bill No. 2390 is identical to Senate Bill No. 2506, which was also reported by the committee on this date.