STATE OF NEW JERSEY
222nd LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION
Sponsored by:
Assemblywoman SHANIQUE SPEIGHT
District 29 (Essex and Hudson)
Co-Sponsored by:
Assemblyman Danielsen
SYNOPSIS
Appropriates $125 million for creation of affordable housing to restore diversions from "New Jersey Affordable Housing Trust Fund."
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning funding for affordable housing and making an appropriation.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. There is appropriated from the General Fund $125,000,000 to the "New Jersey Affordable Housing Trust Fund," for the purpose of awarding grants and loans for housing projects and programs in municipalities for which fair share plans and housing elements have obtained compliance certification, and for other purposes authorized pursuant to section 20 of P.L.1985, c.222 (C.52:27D-320).
2. This act shall take effect immediately.
STATEMENT
This bill appropriates $125 million for creation of affordable housing to restore budget diversions from "New Jersey Affordable Housing Trust Fund" (NJAHTF). The bill restores the approximate amount of funding diverted from the NJAHTF through the State Fiscal Year 2026 Appropriations Act.
The monies appropriated by this bill are to be used for the purposes of awarding grants and loans for housing projects and programs in municipalities for which fair share plans and housing elements have obtained compliance certification, and for other purposes authorized for the NJAHTF.