Bill
Bill > A3388
NJ A3388
NJ A3388Facilitates construction and rehabilitation of affordable housing built in part through sweat equity by eventual occupant.
summary
Introduced
02/01/2024
02/01/2024
In Committee
12/09/2024
12/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
Facilitates construction and rehabilitation of affordable housing built in part through sweat equity by eventual occupant.
AI Summary
This bill facilitates the construction and rehabilitation of affordable housing built in part through sweat equity by the eventual occupant. The bill establishes an application process for the Commissioner of Community Affairs to approve "sweat equity certified nonprofits" with experience in facilitating the construction or rehabilitation of dwelling units through sweat equity. The bill provides exemptions from certain requirements for these sweat equity projects, and directs the state to provide expedited assistance to these certified nonprofits and municipalities for counting the units toward affordable housing obligations and accessing housing trust funds.
Committee Categories
Housing and Urban Affairs
Sponsors (5)
Mitchelle Drulis (D)*,
Roy Freiman (D)*,
Yvonne Lopez (D)*,
Reginald Atkins (D),
Tennille McCoy (D),
Last Action
Reported out of Assembly Comm. with Amendments, 2nd Reading (on 12/09/2024)
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/A3388 |
| BillText | https://pub.njleg.gov/Bills/2024/A3500/3388_R1.HTM |
| Analysis - Statement AHO 12/9/24 | https://pub.njleg.gov/Bills/2024/A3500/3388_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A3500/3388_I1.HTM |
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