Bill
Bill > S3780
NJ S3780
NJ S3780Provides down payment assistance for benefit of certain first-time homebuyers; establishes Resilient Home Construction Pilot Program.
summary
Introduced
05/08/2023
05/08/2023
In Committee
06/27/2023
06/27/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Provides down payment assistance for benefit of certain first-time homebuyers; establishes Resilient Home Construction Pilot Program.
AI Summary
This bill establishes a zero-interest, forgivable loan program to provide down payment assistance of up to $15,000 for first-time homebuyers, with an additional $7,000 to $10,000 for first-generation homebuyers. The bill also creates a Resilient Home Construction Pilot Program in the Department of Community Affairs to provide funding for developers to rehabilitate existing homes and construct new affordable homes for sale to low- and moderate-income households, including those impacted by disasters. The pilot program is eligible for funding from the federal American Rescue Plan Act and other sources.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (5)
Last Action
Substituted by A5415 (2R) (on 06/30/2023)
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/S3780 |
| Fiscal Note - Fiscal Estimate 7/6/23; 1R | https://pub.njleg.gov/Bills/2022/S4000/3780_E2.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S4000/3780_R1.HTM |
| Analysis - Statement SBA 6/27/23 | https://pub.njleg.gov/Bills/2022/S4000/3780_S2.PDF |
| Fiscal Note - Fiscal Estimate 6/22/23; as introduced | https://pub.njleg.gov/Bills/2022/S4000/3780_E1.PDF |
| Analysis - Statement SCU 6/1/23 | https://pub.njleg.gov/Bills/2022/S4000/3780_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S4000/3780_I1.HTM |
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