Housing (Housing Finance) in New Jersey

in committee · New Jersey · General Assembly Jan 13, 2026

A 686: Exempts senior citizens and blind or disabled persons from certain realty transfer fees.

This bill exempts senior citizens, blind individuals, and disabled persons from specific realty transfer fees when buying or selling their owner-occupied one- or two-family homes. It eliminates the State portion of the basic fee and general purpose fee for qualifying sellers and removes a 1% fee for qualifying buyers purchasing homes over $1 million. The exemption does not apply if the property is jointly owned by someone who doesn't meet the eligibility criteria. All affected transactions must still comply with standard transfer requirements, and fees not collected due to this exemption are redirected to the Affordable Housing Trust Fund.

Topics ✓ Housing

Sub-Topics Affordable Housing Homeownership Housing Finance

in committee · New Jersey · Senate Feb 24, 2026

S 3652: Creates home purchase grant program in HMFA for certain veterans who served in federal active duty; appropriates $2 million.

S 3652 creates a New Jersey home purchase grant program for veterans who served at least 90 days in federal active duty. It provides dollar-for-dollar matching grants of up to $10,000 per veteran to cover closing costs, equity payments, or other home-buying expenses, with no income requirements. Eligible veterans must be New Jersey residents with proof of service and intent to buy a primary residence in the state. The bill appropriates $2 million to fund the program, which will operate through the Housing and Mortgage Finance Agency in coordination with the Department of Military and Veterans Affairs.

Topics ✓ Housing ✓ Veterans

Sub-Topics Homeownership Housing Finance Mortgages Veteran Housing

in committee · New Jersey · Senate Feb 9, 2026

S 3410: Establishes "Entry-Level Home Production Incentive Act of 2026"; provides project gap financing for low- to middle-income housing development; appropriates $300 million.

S 3410 establishes the "Entry-Level Home Development Fund" with a $300 million appropriation to provide gap financing for developers building low- to middle-income housing. The fund, administered by the New Jersey Housing and Mortgage Finance Agency, covers financing shortfalls that prevent developers from constructing housing affordable to households earning up to 120% of the area median income. This program directly supports developers of qualifying projects and aims to increase housing supply for low- to middle-income residents who face affordability challenges due to high prices and limited inventory. The bill defines "low- to middle-income housing" as units reserved for households meeting specific income thresholds, without mandating additional requirements for project locations or developer types.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics Appropriations Affordable Housing Housing Finance Mortgages

in committee · New Jersey · General Assembly Feb 19, 2026

A 4437: Provides CBT and GIT credits for undertaking of qualified moderate-income housing projects in certain distressed municipalities.

This bill provides tax credits to businesses that build moderate-income housing in specific distressed New Jersey municipalities. The credits cover up to 25% of qualified construction costs, capped at $1 million per project, and are claimed through a state tax application process. If the tax authority doesn’t act within 90 days, applications are automatically approved. Businesses can also sell unused credits to other taxpayers who owe tax, at a minimum of 75% of the credit value.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics Tax Incentives Affordable Housing Historic Preservation Housing Finance

in committee · New Jersey · General Assembly Jan 13, 2026

A 2246: Appropriates $125 million for creation of affordable housing to restore diversions from "New Jersey Affordable Housing Trust Fund."

This bill appropriates $125 million from the General Fund to the New Jersey Affordable Housing Trust Fund (NJAHTF), restoring funding that was previously diverted under the 2026 State Budget. The funds will be used to award grants and loans for affordable housing projects and programs in municipalities that have certified compliance with their fair share housing plans. It directly affects eligible municipalities and housing developers working on projects meeting state housing requirements. The bill takes effect immediately upon enactment.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics State Budget Affordable Housing Housing Finance

in committee · New Jersey · General Assembly Jan 13, 2026

A 949: Establishes Safe Haven Homeless Housing Program; appropriates $30 million.

This bill creates the Safe Haven Homeless Housing Program to fund renovations of underused buildings (like vacant malls, hotels, or office parks) into housing for homeless individuals and families with very low incomes (earning ≤30% of area median income). It appropriates $30 million in federal American Rescue Plan Act funds to provide low-interest loans to qualified developers for these renovations, with the New Jersey Housing and Mortgage Finance Agency administering the program. The housing must include supportive services to help residents transition to stable housing, either as temporary transitional housing (up to 24 months) or permanent supportive housing.

Topics ✓ Housing

Sub-Topics Homelessness Housing Finance Mortgages

in committee · New Jersey · General Assembly Jan 13, 2026

A 202: Repeals "Statewide Non-Residential Development Fee Act."

This bill repeals New Jersey's "Statewide Non-Residential Development Fee Act" and redirects its previously collected fees into the newly established "New Jersey Affordable Housing Trust Fund." The fund will receive money from the repealed fee system, municipal development trust funds, and other dedicated housing funds. It will finance specific affordable housing projects - including rehabilitation, accessory dwelling units, and conversions for low- and moderate-income households - in municipalities with approved housing plans or receiving state aid. The bill requires projects to be certified by municipal governing bodies and ensures housing units remain affordable for qualifying households.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics Affordable Housing Housing Finance Property Development

died · New Jersey · General Assembly Jan 13, 2026

A 1304: Establishes centralized directory for affordable housing, and housing for senior citizens and veterans.

This bill requires New Jersey municipalities to submit quarterly reports to the Department of Community Affairs about affordable housing, senior citizen housing, and veteran housing units within their borders. The reports must include building addresses, management contacts, application status (including waitlists), and online application links. The state will compile this information into a public online directory on official housing websites (including the Department of Community Affairs, Housing Finance Agency, and Housing Resource Center) and mandate that municipalities link to these sites from their own websites. Municipalities will receive state reimbursement for costs related to gathering and submitting the data.

Topics ✓ Housing ✓ Veterans

Sub-Topics Affordable Housing Housing Finance Veteran Housing

in committee · New Jersey · General Assembly Jan 13, 2026

A 772: Requires HMFA to establish "Sustainable Tiny Home Pilot Program" in three regions of State; appropriates $5 million.

This bill proposes a 3-year pilot program through New Jersey's Housing and Mortgage Finance Agency (HMFA) to develop sustainable tiny homes under 300 square feet in three regions of the state (northern, central, and southern). It appropriates $5 million total ($1.65 million annually) to fund grants for builders constructing these homes, requiring compliance with green building standards and reporting on recycled construction waste. Participating municipalities must temporarily relax zoning rules to allow tiny home developments, with the goal of reducing carbon emissions (tiny homes produce ~93% less CO2 than standard homes) and construction waste. The program targets builders, eligible municipalities, and future residents of these affordable, eco-friendly housing units.

Topics ✓ Environment ✓ Housing

Sub-Topics Climate Change Housing Finance Mortgages Zoning

in committee · New Jersey · General Assembly Jan 13, 2026

A 1737: 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 existing revenue from two specific taxes on high-value real estate transactions to the Affordable Housing Trust Fund. It applies to sellers of residential, commercial, farm, or cooperative properties sold for over $1 million, as well as certain commercial property transfers involving controlling interests exceeding $1 million. Currently, these revenues go to the General Fund; this bill mandates that half be instead deposited annually into the housing trust fund to support affordable housing programs. The change would take effect July 1 following enactment.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics State Budget Affordable Housing Housing Finance

All housing bills