New Jersey Assembly Bill A5594

New Jersey 2022-2023 Regular Session

• Introduced: 6/8/23
• Refer: 6/8/23
• Report Pass: 6/15/23

Caption

Requires Division of Purchase and Property to issue annual report on State-owned property and potential for use as affordable housing.

Impact

Upon enactment, A5594 is expected to significantly influence state housing policy by systematically assessing and utilizing state-owned properties. This could lead to increased availability of affordable housing options, which is crucial in light of ongoing housing shortages in many New Jersey communities. The requirement for an annual report ensures transparency and ongoing evaluation of the state's assets and potential housing developments, which could inform future legislative and executive actions.

Summary

Assembly Bill A5594 mandates the Division of Purchase and Property within the New Jersey Department of the Treasury to compile a comprehensive inventory of all real property owned by the state. This initiative aims to assess the potential of these properties for development into affordable housing addressing the needs of low to moderate income households. The bill prioritizes collaboration with various state agencies specialized in housing development, signifying a collaborative approach towards tackling the housing crisis.

Contention

While the intent of A5594 aligns with growing demands for affordable housing, potential contention may arise regarding the efficacy and speed at which the Division of Purchase and Property can make practical use of these assessments. Some stakeholders may express concerns about how bureaucratic processes could slow down project implementation, while others may question if the available state-owned properties are suitable for rehabilitation into livable conditions. Additionally, there might be discussions around the specific criteria for classifying properties as suitable for low and moderate income housing.