Dedicates 50 percent of revenues collected from additional fees and taxes imposed on real property transfers valued over $1 million to Affordable Housing Trust Fund.

This bill redirects 50% of revenue from two specific taxes on high-value real estate transactions to New Jersey's Affordable Housing Trust Fund. It affects sellers of residential, commercial, or farm property (or controlling interests in commercial entities) transferring property valued over $1 million, who currently pay additional fees and taxes. Under the bill, 50% of the revenue from these taxes - currently deposited into the General Fund - would instead fund affordable housing programs through the Trust Fund, as specified in existing law. The policy change requires the state to annually allocate this portion to housing initiatives without altering the tax rates or thresholds.