Bill
Bill > A4487
NJ A4487
NJ A4487Establishes "Guaranteed Rental Payment Pilot Program" for certain low-income tenants; appropriates $10,000,000.
summary
Introduced
09/15/2022
09/15/2022
In Committee
05/18/2023
05/18/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Establishes "Guaranteed Rental Payment Pilot Program" for certain low-income tenants; appropriates $10,000,000.
AI Summary
This bill establishes the "Guaranteed Rental Payment Pilot Program" within the State Rental Assistance Program to study the relationship between a tenant's credit rating and their performance under a lease, including making required rental payments. The pilot program will select 1,000 low- or moderate-income households participating in the State Rental Assistance Program or the Section 8 Housing Choice Voucher Program, and the program will guarantee payment to landlords in the event of a tenant's lease violation. The bill appropriates $10 million to the "Guaranteed Rental Payment Fund" to cover these payments, and requires the Commissioner of Community Affairs to submit a report on the program's performance after 18 months.
Committee Categories
Government Affairs, Housing and Urban Affairs
Sponsors (4)
Last Action
Reported and Referred to Assembly Community Development and Affairs Committee (on 05/18/2023)
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/bill-search/2022/A4487 |
| Analysis - Statement AHO 5/18/23 | https://pub.njleg.gov/Bills/2022/A4500/4487_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A4500/4487_I2.HTM |
| BillText | https://pub.njleg.gov/Bills/2022/A4500/4487_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/A4500/4487_I1.PDF |
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