Authorizes HMFA to use certain tax credits; directs HMFA to conduct tax credit auctions to provide financial assistance for certain housing puropses.*

S 4071 redirects $400 million in tax credits from the Community-Anchored Development Program and Cultural Arts Incentives Program to the New Jersey Housing and Mortgage Finance Agency (HMFA). The bill requires HMFA to conduct competitive tax credit auctions to sell these credits, with annual limits of $75 million and a minimum sale price of 85% of the credit value. Proceeds from these auctions must fund middle-income workforce housing developments, defined as housing for households earning 80-120% of the local median income, located near public transportation or job opportunities. This housing must be deed-restricted for these income-eligible households.