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Bill > S140
NJ S140
NJ S140Authorizes COAH to credit municipalities with 1.5 units of fair share affordable housing obligation for each housing unit occupied by a veteran; permits municipalities to satisfy fair share affordable housing obligation through 35 percent set aside for veterans.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill would allow municipalities to obtain credits toward the fulfillment of their fair share affordable housing obligations for housing reserved for certain veterans. This bill would require the Council on Affordable Housing to credit 1.5 units toward a municipality's fair share obligation for each unit of housing occupied by a veteran of low or moderate income. This legislation also permits a municipality to submit a housing element to the Council on Affordable Housing that sets aside 35 percent of all new affordable housing for low and moderate income veterans who had active service in time of war, as defined by current law.
AI Summary
This bill allows municipalities to receive credit towards their affordable housing obligations for housing units occupied by veterans. Specifically, the Council on Affordable Housing (COAH), the state agency responsible for overseeing affordable housing, will credit municipalities with 1.5 units of fair share obligation for each housing unit occupied by a low or moderate-income veteran who served during wartime. Additionally, municipalities can now satisfy their fair share obligation by setting aside 35% of all new affordable housing for these same veterans. This provides a greater incentive for municipalities to create housing opportunities for veterans who have served the country.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs 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/S140 |
| BillText | https://pub.njleg.gov/Bills/2026/S0500/140_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S0500/140_I1.HTM |
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