Bill > A2843

This bill authorizes the annual transfer of up to $5 million from the "New Jersey Affordable Housing Trust Fund" to the "Urban Housing Assistance Fund" for State fiscal years 2010 through 2013, with the purpose of redeveloping and rehabilitating housing in urban areas. The "New Jersey Affordable Housing Trust Fund" is a dedicated fund for affordable housing initiatives, and the "Urban Housing Assistance Fund" is established to help municipalities provide housing through rehabilitation or construction. This legislation amends existing laws to permit these transfers, which are deemed necessary to address housing needs in urban areas.