Requires additional surcharge on certain documents filed in certain county offices to support affordable housing in certain populous municipalities.

This bill (A2494) requires counties containing cities of the first class (Newark and Jersey City, each with over 150,000 residents) to impose a $3-$10 surcharge on real property documents filed in county offices. The funds collected are deposited quarterly into each city’s municipal affordable housing trust fund. The money must be used solely to create or rehabilitate affordable housing units in those cities, addressing housing affordability challenges noted in their high poverty rates. The surcharge applies to documents related to real property but excludes assignments of previously recorded deeds of trust.