NJ A3399

Waives the initial five-year inspection fee under the Hotel and Multiple Dwelling Law for multiple dwellings owned by municipalities (or their agencies/instrumentalities) where all units are dedicated as very low, low, or moderate income housing

Applies specifically to the first inspection conducted under the cyclical inspection requirements, not to subsequent inspections or reinspection fees

Takes effect immediately and applies retroactively to January 1, 2017

Aims to reduce costs for municipalities and property taxpayers in producing affordable housing