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NJ A1737

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Verlina Reynolds-Jackson

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Dedicates 50% of revenues from additional fees and taxes on real property transfers exceeding $1 million to the New Jersey Affordable Housing Trust Fund
  • Applies to additional fees imposed on sellers of residential, commercial, certain farm property, and cooperative units with consideration over $1 million
  • Also covers the controlling interest transfer tax on non-deed transfers of commercial property where consideration exceeds $1 million
  • Currently, these revenues go to the General Fund; the bill redirects half to support affordable housing purposes
  • Takes effect on July 1 following enactment

Legislative Description

Dedicates 50 percent of revenues collected from additional fees and taxes imposed on real property transfers valued over $1 million to Affordable Housing Trust Fund.

Housing

Last Action

Introduced, Referred to Assembly Housing Committee

1/13/2026

Committee Referrals

Housing1/13/2026

Full Bill Text

No bill text available