Dedicates 50 percent of revenues from additional fees and taxes on real property transfers over $1 million to the Affordable Housing Trust Fund.

The bill allocates 50 percent of the revenues from additional fees and taxes on real property transfers exceeding $1 million to the New Jersey Affordable Housing Trust Fund. Currently, these revenues are deposited into the General Fund. The fund supports appropriations for affordable housing purposes. This change takes effect on July 1 following the bill's enactment.

Dedicates 50 percent of revenues from additional fees and taxes on real property transfers over $1 million to the Affordable Housing Trust Fund.

The bill allocates 50 percent of the revenues from additional fees and taxes on real property transfers exceeding $1 million to the New Jersey Affordable Housing Trust Fund. Currently, these revenues are deposited into the General Fund. The fund supports appropriations for affordable housing purposes. This change takes effect on July 1 following the bill's enactment.