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Bill > S1889
NJ S1889
NJ S1889Authorizes annual $5 million transfer from New Jersey Affordable Housing Trust Fund to Urban Housing Assistance Fund for State fiscal years 2010 through 2013.
summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
2010-2011 Regular Session
Bill Summary
This bill would amend section 20 of the "Fair Housing Act," N.J.S.A.52:27D-320, to provide that the Commissioner of Community Affairs may transfer up to $5 million from the "New Jersey Affordable Housing Trust Fund" to the "Urban Housing Assistance Fund," N.J.S.A.52:27D-329.7, in fiscal years 2010, 2011, 2012 and 2013. These transfers would allow for necessary redevelopment and rehabilitation of housing in urban areas for lower-income households. This bill also amends N.J.S.A.46:15-10.2, the provision of law dedicating the realty transfer fee for the enumerated purposes of the "New Jersey Affordable Housing Trust Fund," to authorize transfer of fee revenue to the "Urban Housing Assistance Fund." The bill also modifies the provisions of law concerning the "Urban Housing Assistance Fund" to allow transfers from the "New Jersey Affordable Housing Trust Fund."
AI Summary
This bill authorizes the Commissioner of Community Affairs to transfer up to $5 million annually from the "New Jersey Affordable Housing Trust Fund" to the "Urban Housing Assistance Fund" for State fiscal years 2010 through 2013, with the purpose of redeveloping and rehabilitating housing in urban areas for lower-income households. The bill also amends existing laws to allow for these transfers, including provisions related to the realty transfer fee, which is a tax on real estate transactions that helps fund the Affordable Housing Trust Fund, and modifies the Urban Housing Assistance Fund to accept these funds.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
Received in the Assembly, Referred to Assembly Appropriations Committee (on 06/10/2010)
bill text
bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| Bill | https://www.njleg.state.nj.us/2010/Bills/S2000/1889_I1.HTM | 05/28/2012 |
| Statement SEG 5/13/10 | https://www.njleg.state.nj.us/2010/Bills/S2000/1889_S1.HTM | 04/23/2012 |
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