NJ A1705

Increases maximum relocation assistance payments for persons displaced when the State acquires their real property through a phased-in schedule over 48 months following enactment

Raises the moving expense allowance from current levels to $1,350 maximum and dislocation allowance to $900 maximum by the 48th month after enactment

Increases the fixed payment for displaced businesses or farms to a minimum of $11,250 and maximum of $45,000 by month 48, up from the current $2,500 minimum and $10,000 maximum

Raises the additional payment for displaced homeowners (who owned and occupied the dwelling for at least 180 days) to a maximum of $67,500 by month 48, up from $15,000

Establishes automatic annual cost-of-living adjustments beginning in the 60th month after enactment, tied to the Consumer Price Index for All Urban Consumers (CPI-U)