Establishes the "Entry-Level Home Production Incentive Program" to fund low- to middle-income housing development in New Jersey.

The bill establishes the "Entry-Level Home Production Incentive Program" in the New Jersey Housing and Mortgage Finance Agency to fund the project financing gaps for development projects that include low- to middle-income housing. The program provides production assistance in the form of gap grants and infrastructure loans. The bill defines "low- to middle-income housing" as housing affordable according to federal standards and reserved for occupancy by households with a gross household income not exceeding 120 percent of the area median income.

Establishes the "Entry-Level Home Production Incentive Program" to fund low- to middle-income housing development in New Jersey.

The bill establishes the "Entry-Level Home Production Incentive Program" in the New Jersey Housing and Mortgage Finance Agency to fund the project financing gaps for development projects that include low- to middle-income housing. The program provides production assistance in the form of gap grants and infrastructure loans. The bill defines "low- to middle-income housing" as housing affordable according to federal standards and reserved for occupancy by households with a gross household income not exceeding 120 percent of the area median income.