NJ A2789

Establishes a four-year "Rent for Credit Pilot Program" within the Department of Community Affairs to allow low-income tenants in subsidized housing to build credit by having their rent payments reported to consumer reporting agencies

Landlords receiving state or federal subsidies may volunteer to participate and must agree to comply with department rules and provide program execution data for reporting purposes

Participating tenants may be charged a monthly fee of up to $10 to cover reporting costs; nonpayment of this fee cannot be used as grounds for eviction or security deposit deduction

Tenants who opt out of the program cannot re-enroll for six months, and all rent payments (timely, late, or missed) will be reported once a tenant enrolls

The department must conduct a program effectiveness review by February 1 of the second fiscal year, including data on participation numbers, tenant demographics, costs, credit impacts, and submit a report with recommendations to the Governor and Legislature