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NJ S1304
Bill
Status
Introduced
1/9/2024
Primary Sponsor
Nellie Pou
Click for details
AI Summary
- Creates the "Flood Protection and Home Elevation Fund" within the Department of Environmental Protection to help homeowners finance projects that raise their primary residences above flood levels
- Dedicates up to $5 million annually from the State's portion of realty transfer fee revenue to the fund, but only after required allocations to the Shore Protection Fund ($25 million) and Highlands Protection Fund ($5 million) are met
- Reimburses qualifying homeowners 25% of annual interest payments on home elevation loans, capped at $750 per year, contingent on the county providing matching funds in the same amount
- Requires homeowners to obtain all necessary State and local zoning approvals before applying, complete the elevation project, and submit proof of completion before receiving reimbursement
- Authorizes counties to use their share of realty transfer fees or open space trust funds to provide the required matching funds for home elevation projects
Legislative Description
"Digital Asset and Blockchain Technology Act."
Commerce
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee
1/9/2024
Committee Referrals
Commerce1/9/2024
Full Bill Text
No bill text available