"New Jersey Workforce Housing Partnership Act"; incentivizes homebuyer assistance to certain employees, provides tax credits for development of certain workforce housing, and provides certain assistance and affordability protections for middle-income residents; appropriates $55 million.

The New Jersey Workforce Housing Partnership Act provides financial assistance to help middle-income workers purchase homes by incentivizing employers to offer down payment assistance. It establishes a program that matches employer contributions (up to $10,000-$15,000 per employee) for down payments on workforce housing, provides low-interest mortgages, and offers tax credits to employers for these contributions. The bill requires that at least 20% of units in workforce housing projects be affordable for low- and moderate-income households (earning no more than 80% of area median income). It appropriates $55 million total ($50 million for the assistance program, $5 million for a relief program for long-term homeowners in affected areas). The legislation aims to address housing affordability challenges for workers in high-cost areas while encouraging private sector involvement in housing development.