NJ A2275

Establishes a "Guaranteed Rental Payment Pilot Program" within the State Rental Assistance Program to study housing opportunities for households with poor credit histories and track the relationship between credit ratings and lease payment defaults

Randomly selects 1,000 low- or moderate-income households participating in the State Rental Assistance Program or Section 8 Housing Choice Voucher Program who have completed housing and credit counseling

Guarantees landlords reimbursement for tenant defaults on rent payments, damages beyond normal wear and tear, legal fees, and other lease obligations, with tenants required to repay amounts within 90 days of payment to landlord

Creates the "Guaranteed Rental Payment Fund" with a $10,000,000 appropriation from the General Fund, allowing up to $10,000 annually for administrative expenses

Requires the Commissioner of Community Affairs to submit a report to the Governor and Legislature within 18 months detailing default rates, credit scores of defaulting participants, and other relevant data