New Jersey Assembly Bill A5390

New Jersey 2022-2023 Regular Session

• Introduced: 5/8/23
• Refer: 5/8/23

Caption

Concerns standards for fair share affordable housing credit for housing reserved for veterans; requires veteran preference in certain affordable housing application administration.

Impact

If enacted, A5390 will significantly influence how municipalities in New Jersey manage their affordable housing obligations. Each municipality will be incentivized through housing credits to reserve units for veterans, effectively recognizing their service and the specific challenges they face in accessing affordable housing. This mandate could lead to an increased availability of affordable options for veterans, while also ensuring that municipalities remain compliant with state housing goals. The law is expected to enhance the overall housing landscape for veterans, particularly those seeking stability after their service.

Summary

Assembly Bill A5390 aims to adjust the standards related to the allocation of fair share affordable housing credit within New Jersey, specifically focusing on housing reserved for veterans. It seeks to prioritize the housing applications of veterans who are classified as low- to moderate-income, ensuring that municipalities provide a certain percentage of affordable units to this demographic. The bill highlights the necessity for veterans to receive preferential treatment in housing applications, which is intended to address the unique housing needs of those who have served in the military.

Contention

Notably, the bill may face contention regarding its implementation and the potential administrative burden it could impose on local governments. Critics may argue that the requirement to prioritize veterans could limit housing options for other low-income populations, leading to debates about equity in housing access. Additionally, there may be concerns about the adequacy of resources available to municipalities to meet these new requirements, as well as potential pushback from developers regarding changes to their obligations in affordable housing projects.