Bill
Bill > A1229
NJ A1229
NJ A1229Provides municipality with affordable housing credit toward its municipal fair share housing obligation for funds transferred to the New Jersey Affordable Housing Trust Fund pursuant to P.L.2008, c.46.
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
This bill provides municipalities with affordable housing credit toward their municipal fair share housing obligation for funds transferred to the "New Jersey Affordable Housing Trust Fund" pursuant to P.L.2008, c.46. Under the provisions of the bill, a municipality that has transferred its development fee trust fund or payments-in-lieu balances to the "New Jersey Affordable Housing Trust Fund" would receive one unit of affordable housing credit in proportion to the minimum per unit amount established for the housing region of the transferring municipality by the Council on Affordable Housing ("council"). As a point of reference, under N.J.A.C.5:97-7.1 (the council's substantive rules for the period beginning June 2, 2008) the minimum per unit transfer amount pursuant to a regional contribution agreement by housing region was: Housing Region 1 (Northeast) -- $80,000; Housing Region 2 (Northwest) -- $67,000; Housing Region 3 (West Central) -- $67,000; Housing Region 4 (East Central) -- $70,000; Housing Region 5 (Southwest) -- $71,000; and Housing Region 6 (South-Southwest) -- $80,000.
AI Summary
This bill allows municipalities to receive credit towards their affordable housing obligations for funds they transfer to the New Jersey Affordable Housing Trust Fund, which is a state fund established to support affordable housing initiatives. Specifically, if a municipality transfers its collected development fees or payments-in-lieu (money paid instead of building affordable housing) to this state fund, it will be granted one unit of affordable housing credit for each amount transferred, calculated based on the minimum per-unit cost set for its housing region by the Council on Affordable Housing (COAH), an agency that oversees affordable housing in New Jersey. This provision aims to incentivize municipalities to contribute to the state's broader affordable housing goals by recognizing their financial contributions.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly Housing 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/A1229 |
| BillText | https://pub.njleg.gov/Bills/2026/A1500/1229_I1.HTM |
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