AN ACT ESTABLISHING A HOUSING GROWTH FUND FOR A MUNICIPAL GRANT PROGRAM.
What changed between versions
Effective date changed from July 1, 2025 to October 1, 2025, giving municipalities additional time to prepare for the new scoring system and grant program.
Added twelve new definitions including 'Dwelling unit', 'Housing authority', 'Mixed-income development', 'Mixed-use development', 'Multifamily housing', 'Set-aside development', and 'Transit-oriented development' to clarify the bill's terminology.
Municipalities must now submit documentation to the Commissioner by December 1, 2025 and annually thereafter, or they become ineligible for grant funding.
New scoring system awards additional points for housing built in mixed-use developments (1.5 points), mixed-income developments (1.5 points), transit-oriented developments (2 points), multifamily housing (2 points), housing authority developments (2 points), and set-aside developments (3 points), with a base of 1 point per dwelling unit.
Commissioner gains authority to request, inspect, and audit any reports, books, records, and financial information necessary to calculate housing growth scores.
Developments completed through successful appeals of affordable housing denials in Superior Court are exempt from point assessment, preventing double-counting of already-approved affordable housing.
Funding allocation language moved to Section 2 and clarified that the $50 million annual allocation applies to grants awarded under Section 4 based on the new scoring system.