STATE OF NEW JERSEY
218th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2018 SESSION
Sponsored by:
Assemblywoman HOLLY T. SCHEPISI
District 39 (Bergen and Passaic)
Co-Sponsored by:
Assemblyman Rumpf, Assemblywoman Gove, Assemblymen Clifton, Auth, Space and Harold J. Wirths
SYNOPSIS
Increases maximum municipal percentage of affordable fair share housing satisfied by age-restricted units to 50 percent.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning age-restricted affordable housing units and supplementing Title 45 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Notwithstanding any law, rule, or regulation to the contrary, the maximum percentage of a municipality’s affordable fair share housing obligation which the municipality may meet by age-restricted units shall be 50 percent.
2. This act shall take effect immediately.
STATEMENT
This bill would establish the maximum percentage of a municipality’s affordable fair share housing obligation which may be met by age-restricted units in a municipality at 50 percent. The Council on Affordable Housing adopted its third-round regulations, since partially invalidated by the courts, that reduced the percentage from 50 percent to 25 percent.