Establishes "Police Officer, Firefighter, Public School Teacher, Corrections Officer, and Sanitation Worker Home-buyer Assistance Act"; appropriates $5 million.

New Jersey's S 224 creates a down-payment assistance program for police officers, firefighters, public school teachers, corrections officers, and sanitation workers in designated school districts. It provides $10,000 zero-interest second mortgages (for down payments and closing costs) that are forgiven at 20% per year over five years, contingent on the home remaining the applicant's primary residence. To qualify, applicants must have at least one year of employment in their respective public sector roles and live in a participating neighborhood within an SDA school district. The program is funded by a $5 million state appropriation to the New Jersey Housing and Mortgage Finance Agency.