NJ A875

Requires the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to reserve at least 30% of annual low-income housing tax credits (LIHTCs) through the family and senior cycles for qualified projects in high-opportunity areas

Eligible projects must meet a court-settled fair share plan or be subject to specific performance construction requirements, and be located in census tracts with poverty rates below the state average

Family cycle projects must be in high-performing school districts where at least 40% of 4th grade students meet or exceed expectations in math and language arts assessments

Projects must be within one-half mile of public transportation, though senior cycle projects may alternatively commit to providing resident transportation at least two days per week

Projects must be within three miles of at least half of 16 designated amenities, including grocery stores, hospitals, pharmacies, banks, parks, and other civic facilities, with additional requirements for family cycle projects to be near schools and daycare providers