Bill > A4102

This bill permits for-profit affordable housing entities to join with non-profit entities and housing authorities in joint insurance funds under certain circumstances. The bill defines "non-profit housing entity" and "for-profit affordable housing entity" and allows these entities to be considered "local units" for the purposes of establishing or joining a joint insurance fund. The bill also places restrictions on the types of insurance these joint funds can provide, such as prohibiting them from providing group health or life insurance, but allowing them to participate in other types of joint insurance funds for excess coverage, residual claims transfer, or environmental liability insurance.

Budget and Finance, Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/A4102