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Bill > A2267
NJ A2267
NJ A2267Requires HMFA to establish affordable housing insurance pilot program; appropriates $5 million.
summary
Introduced
01/09/2024
01/09/2024
In Committee
02/08/2024
02/08/2024
Crossed Over
03/18/2024
03/18/2024
Passed
03/18/2024
03/18/2024
Dead
Signed/Enacted/Adopted
03/20/2024
03/20/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
An Act concerning an insurance fund for certain for-profit affordable housing entities, supplementing Title 55 of the Revised Statutes, and making an appropriation.
AI Summary
This bill requires the New Jersey Housing and Mortgage Finance Agency (HMFA) to establish an affordable housing insurance pilot program. The program will provide financial assistance to for-profit affordable housing entities for insurance premiums related to eligible affordable housing projects. The bill establishes an Affordable Housing Insurance Fund within the HMFA to implement the program and appropriates $5 million to the fund. The HMFA must submit a report to the Governor and Legislature after the completion of the pilot program to assess its success.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (7)
Yvonne Lopez (D)*,
Annette Quijano (D)*,
Troy Singleton (D)*,
Brian Stack (D)*,
Garnet Hall (D),
Nellie Pou (D),
Shanique Speight (D),
Last Action
Approved P.L.2024, c.4. (on 03/20/2024)
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/A2267 |
| BillText | https://pub.njleg.gov/Bills/2024/PL24/4_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/AL24/4_.HTM |
| Analysis - Statement Assembly 3/18/24 ACS | https://pub.njleg.gov/Bills/2024/A2500/2267_S3.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A2500/2267_R1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/A2500/2267_U1.HTM |
| Analysis - Statement AAP 2/8/24 ACS | https://pub.njleg.gov/Bills/2024/A2500/2267_S2.PDF |
| Analysis - Technical Review Of Prefiled Bill | https://pub.njleg.gov/Bills/2024/A2500/2267_T1.PDF |
| Analysis - Statement AHO 1/29/24 | https://pub.njleg.gov/Bills/2024/A2500/2267_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A2500/2267_I1.HTM |
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