Bill
Bill > S492
NJ S492
Prohibits the imposition of affordable housing need and related fees upon the local transfer or move of a business.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill prohibits the Council on Affordable Housing from adopting a regulation which would generate affordable housing need for a municipality upon the event of a commercial or industrial entity moving or relocating within the municipality, or within the same housing region of the municipality, or within a 50 mile radius extending in all directions from the initial location of the entity. Municipalities are prohibited from imposing a fee for affordable housing purposes upon a developer meeting the criteria set forth in the bill.
AI Summary
This bill prohibits the Council on Affordable Housing from generating affordable housing need for a municipality when a commercial or industrial entity moves or relocates within the same municipality, the same housing region, or within a 50-mile radius. Additionally, municipalities are prohibited from imposing a fee for affordable housing purposes on developers that meet the criteria set forth in the bill.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/09/2024)
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/2024/S492 |
| BillText | https://pub.njleg.gov/Bills/2024/S0500/492_I1.HTM |
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