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Bill > A6059
NJ A6059
NJ A6059Appropriates $125 million for creation of affordable housing to restore diversions from "New Jersey Affordable Housing Trust Fund."
summary
Introduced
11/17/2025
11/17/2025
In Committee
11/17/2025
11/17/2025
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill appropriates $125 million for creation of affordable housing to restore budget diversions from "New Jersey Affordable Housing Trust Fund" (NJAHTF). The bill restores the approximate amount of funding diverted from the NJAHTF through the State Fiscal Year 2026 Appropriations Act. The monies appropriated by this bill are to be used for the purposes of awarding grants and loans for housing projects and programs in municipalities for which fair share plans and housing elements have obtained compliance certification, and for other purposes authorized for the NJAHTF.
AI Summary
This bill appropriates $125 million from the General Fund to the New Jersey Affordable Housing Trust Fund (NJAHTF), which is a state fund designed to support affordable housing initiatives. The funding will be used specifically to provide grants and loans for housing projects in municipalities that have received compliance certification for their fair share plans and housing elements. Fair share plans refer to municipal strategies for meeting affordable housing needs, and compliance certification indicates that these plans meet state requirements. The bill aims to restore funding that was previously diverted from the NJAHTF, ensuring that resources are available for developing affordable housing across New Jersey. The legislation will take effect immediately upon enactment, allowing for prompt allocation of the funds to support housing development and accessibility for lower-income residents.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly Housing Committee (on 11/17/2025)
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/A6059 |
| BillText | https://pub.njleg.gov/Bills/2024/A6500/6059_I1.HTM |
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