Bill
Bill > A5027
summary
Introduced
06/19/2017
06/19/2017
In Committee
06/19/2017
06/19/2017
Crossed Over
Passed
Dead
01/08/2018
01/08/2018
Introduced Session
2016-2017 Regular Session
Bill Summary
This bill would change the calculation of affordable housing obligations to a Statewide perspective rather than a local level. In addition, under the bill, the Council on Affordable Housing would submit a report every five years on housing affordability. The report would calculate the ratio of the median cost, including property taxes, mortgage rates and payments, insurance, cost of utilities, and other necessary factors in the discretion of the council, to maintain the home to the median income for the State. This report would be used to update the growth-share calculation each time the council issues a report.
AI Summary
This bill would change the calculation of affordable housing obligations to a Statewide perspective rather than a local level. The Council on Affordable Housing (COAH) would submit a report every five years on housing affordability, calculating the ratio of median home maintenance costs to median income for the State. This report would be used to update the growth-share calculation method, which would include foreclosed and abandoned properties, exclude certain new housing starts, and have a cap of 5% of the Statewide housing stock. The bill aims to address housing affordability from a broader, Statewide approach.
Committee Categories
Housing and Urban Affairs
Sponsors (11)
Tony Bucco (R)*,
Holly Schepisi (R)*,
Jon Bramnick (R),
Chris Brown (R),
Jack Ciattarelli (R),
Robert Clifton (R),
BettyLou DeCroce (R),
John DiMaio (R),
Greg McGuckin (R),
Nancy Muñoz (R),
Kevin Rooney (R),
Last Action
Introduced, Referred to Assembly Housing and Community Development Committee (on 06/19/2017)
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/bills/BillView.asp?BillNumber=A5027 |
| BillText | https://www.njleg.state.nj.us/2016/Bills/A9999/5027_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2016/Bills/A9999/5027_I1.PDF |
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