New Jersey Assembly Bill A5117

New Jersey 2022-2023 Regular Session

• Introduced: 1/26/23
• Refer: 1/26/23

Caption

Permits fair share affordable housing bonus credit for certain transitional housing reserved for occupancy by veterans.

Impact

The enactment of A5117 is expected to directly impact state laws regarding affordable housing by expanding the definitions and credits associated with the fair share housing obligations municipalities must meet. By focusing on transitional housing for veterans, it aims to facilitate a smoother transition to permanent housing for those who have served in the military. This may alleviate some of the burdens on local governments to meet housing requirements while simultaneously providing necessary support to veterans in need of stable housing.

Summary

Assembly Bill A5117, introduced in New Jersey, focuses on enhancing the provision of affordable housing specifically for veterans. The bill permits municipalities to receive a fair share affordable housing bonus credit for transitional housing that is reserved for low or moderate-income veterans. This legislation aims to recognize the unique needs of veterans who may be struggling with housing insecurity and allows municipalities to count certain transitional housing units towards their affordable housing obligations. Each bedroom within this type of housing that meets the qualifications can contribute to this credit.

Contention

Despite the overall positive sentiment towards supporting veterans, there could be dissent regarding how this bill impacts existing housing policies. Some may argue that preferential treatment for veterans could complicate the housing market, potentially leading to issues of equity among other low-income groups. Additionally, there could be concerns from budget hawks about the financial implications of granting municipalities additional credits, as this may create pressures on state housing funds and alter the landscape of affordable housing development.