Establishes "Guaranteed Rental Payment Pilot Program" for certain low-income tenants; appropriates $10,000,000.
This bill establishes a 1-year pilot program to help low-income renters with poor credit histories maintain housing stability. It selects 1,000 eligible tenants from New Jersey’s State Rental Assistance Program (or Section 8) who complete credit counseling. The program guarantees landlords payment for missed rent (with tenants repaying the fund within 90 days) while tracking default rates by credit rating. The $10 million appropriation funds the pilot’s operations and data collection, which will inform future housing policy.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
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1
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Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Renee Burgess
DDemocratic
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