Bill
Bill > S3696
summary
Introduced
05/16/2019
05/16/2019
In Committee
05/16/2019
05/16/2019
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 Regular Session
Bill Summary
This bill would change the calculation of affordable housing obligations to a Statewide perspective rather than a local level. In addition, under the bill, the Council on Affordable Housing would submit a report every five years on housing affordability. The report would calculate the ratio of the median cost, including property taxes, mortgage rates and payments, insurance, cost of utilities, and other necessary factors in the discretion of the council, to maintain the home to the median income for the State. This report would be used to update the growth-share calculation each time the council issues a report.
AI Summary
This bill would change the calculation of affordable housing obligations to a Statewide perspective rather than a local level. The Council on Affordable Housing (COAH) would submit a report every five years on housing affordability, calculating the ratio of the median cost to maintain a home to the median income for the State. This report would be used to update the growth-share calculation method, which includes factors like foreclosed and abandoned property, and excludes certain housing starts. The bill also removes provisions related to limiting a municipality's fair share of affordable housing units to 1,000 units within 10 years.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 05/16/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bills/BillView.asp?BillNumber=S3696 |
| BillText | https://www.njleg.state.nj.us/2018/Bills/S4000/3696_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/S4000/3696_I1.PDF |
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