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Bill > A2246
NJ A2246
NJ A2246Appropriates $125 million for creation of affordable housing to restore diversions from "New Jersey Affordable Housing Trust Fund."
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 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 State's General Fund to the "New Jersey Affordable Housing Trust Fund" (NJAHTF), a dedicated fund established to support the creation and preservation of affordable housing. The purpose of this appropriation is to replenish funds that have been diverted from the NJAHTF in previous budgets, specifically aiming to restore the approximate amount of funding lost through the State Fiscal Year 2026 Appropriations Act. The money allocated by this bill is intended for awarding grants and loans to support housing projects and programs in municipalities that have successfully met state requirements for affordable housing development, as indicated by their "fair share plans" and "housing elements" receiving compliance certification, and for other uses permitted by the NJAHTF's authorizing law.
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/A2246 |
| BillText | https://pub.njleg.gov/Bills/2026/A2500/2246_I1.HTM |
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