Bill
Bill > A2805
NJ A2805
NJ A2805Permits certain portion of municipal development trust funds to be spent on housing affordability assistance to veterans.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
Current law permits a municipality that is authorized to collect affordable housing fees under the rules of the Council on Affordable Housing (COAH) to set aside amounts from the fees collected to provide affordability assistance programs, which may include down payment assistance, security deposit assistance, low interest loans, common maintenance expenses for units located in condominiums, rental assistance, and any other program authorized by the COAH. This bill would provide that up to 30 percent of the development fee amounts permitted to be spent on affordability assistance programs may be directed to a municipal program for first-time homebuying veterans, to provide grants for downpayment assistance. Grants under the program would be limited to $15,000 per recipient, and would not be considered as income concerning eligibility requirements for other State programs, or for purposes of taxation. The bill will help veterans by supplementing other State programs available for first-time homebuyers, such as the low-interest loans program offered by the New Jersey Housing and Mortgage Finance Agency.
AI Summary
This bill allows municipalities to use up to 30 percent of funds designated for housing affordability assistance to create a program specifically for first-time homebuying veterans, providing grants for down payments. These grants would be capped at $15,000 per veteran and would not count as income when determining eligibility for other state programs or for tax purposes, thereby supplementing existing state aid for veterans seeking to purchase their first home.
Committee Categories
Military Affairs and Security
Sponsors (4)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 01/13/2026)
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/2026/A2805 |
| BillText | https://pub.njleg.gov/Bills/2026/A3000/2805_I1.HTM |
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