NJ A3388

Establishes a certification process through the Commissioner of Community Affairs for nonprofit organizations that facilitate affordable housing construction or rehabilitation using sweat equity (labor provided by future low- or moderate-income occupants)

Exempts sweat equity housing projects from accessibility/adaptability requirements under P.L.2005, c.350 and affirmative marketing requirements typically required for affordable housing to count toward municipal fair share obligations

Allows certified sweat equity nonprofits to substitute their own affordability controls for the standard Uniform Housing Affordability Controls, provided they maintain affordability for low- and moderate-income households for a reasonable period

Directs the Department of Community Affairs to provide expedited assistance to certified nonprofits for counting units toward municipal obligations, facilitating abandoned property transfers, and accessing municipal and state affordable housing trust funds

Adds sweat equity projects as an eligible use of the New Jersey Affordable Housing Trust Fund and requires the Commissioner to adopt implementing regulations within four months of enactment