New Jersey Assembly Bill A4347

New Jersey 2024-2025 Regular Session

• Introduced: 5/10/24
• Refer: 5/10/24

Caption

Expressly permits housing constructed prior to April 1, 1980 to be counted toward municipal affordable housing obligation.

Impact

If enacted, A4347 would enable municipalities to leverage older housing stock to satisfy their affordable housing obligations more effectively. The bill stipulates that for units constructed before the cut-off date to qualify, they must have been reserved for low- or moderate-income households for at least 20 years. Municipalities can include these units in their fair share plans, which outline how they intend to meet housing needs in their communities. Additionally, rehabilitation of these units under specified guidelines could also count towards current requiremnets.

Summary

Assembly Bill A4347 was introduced to amend the existing provisions of the New Jersey Fair Housing Act, specifically concerning affordable housing obligations for municipalities. The bill explicitly allows municipalities to count housing units constructed before April 1, 1980, towards meeting their designated affordable housing quotas. This is significant because earlier regulations may have been interpreted as limiting municipalities' abilities to credit older housing toward meeting present housing needs, thus potentially affecting local affordable housing strategies.

Contention

While supporters argue that A4347 will bolster affordable housing availability and ensure that municipalities can utilize existing resources, critics may contend the bill could complicate the housing landscape if municipalities do not enforce rigorous standards for occupancy. Moreover, there may be concerns over the potential for decreased funding for new construction catered to low-income families, as the focus might shift toward rehabilitating older units. Additionally, some stakeholders may question whether this approach adequately addresses the broader housing supply challenges faced by the state.