NJ A3469

Creates a "Guaranteed Rental Payment Pilot Program" within the State Rental Assistance Program to study housing opportunities for households with poor credit histories and track the relationship between credit ratings and lease payment defaults.

Randomly selects 1,000 low- or moderate-income households receiving State Rental Assistance Program or Section 8 benefits who have completed housing and credit counseling to participate.

Guarantees landlords reimbursement from a dedicated fund for any tenant defaults on rent, unit damage, legal fees, or other lease obligations, while preserving landlords' right to pursue eviction.

Requires tenants to repay any amounts the program pays to landlords within 90 days of payment, with repaid funds reinvested into the program.

Appropriates $10,000,000 from the General Fund, with up to $10,000 annually available for administrative expenses, and mandates a report to the Governor and Legislature within 18 months of program operation.