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NJ A3508

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Yvonne Lopez

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Directs the Commissioner of Community Affairs to establish maximum per-unit development cost standards for projects funded through the New Jersey Affordable Housing Trust Fund
  • Requires the per-unit cost standards to be comparable to those used by the New Jersey Housing and Mortgage Finance Agency for the federal Low Income Housing Tax Credit Program
  • Mandates the commissioner adopt implementing rules and regulations within five months of enactment
  • Takes effect on the first day of the sixth month following enactment and applies to funding commitments made on or after that date

Legislative Description

Requires standards for maximum development costs per unit for project supported by 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