New Jersey S1891 allows municipalities to use up to 30% of development fees for housing assistance to veterans.

New Jersey S1891 permits municipalities authorized to collect affordable housing fees to allocate up to 30% of these fees for housing affordability assistance to veterans. This includes providing grants for down payment assistance, with a cap of $15,000 per recipient. The bill ensures that these grants are not considered income or resources for other state assistance programs or tax purposes. The funds must be spent within four years or transferred to the New Jersey Affordable Housing Trust Fund.

New Jersey S1891 allows municipalities to use up to 30% of development fees for housing assistance to veterans.

New Jersey S1891 permits municipalities authorized to collect affordable housing fees to allocate up to 30% of these fees for housing affordability assistance to veterans. This includes providing grants for down payment assistance, with a cap of $15,000 per recipient. The bill ensures that these grants are not considered income or resources for other state assistance programs or tax purposes. The funds must be spent within four years or transferred to the New Jersey Affordable Housing Trust Fund.