Establishes a pilot program to assist low-income households with security deposits in nine New Jersey counties.
The bill establishes the Security Deposit Assistance Pilot Program in Passaic, Union, Essex, Hudson, Gloucester, Atlantic, Burlington, Camden, and Mercer counties. The program aims to help low-income households cover security deposits for residential leases. Only households qualifying for "very low income housing" are eligible. The Commissioner of Community Affairs will provide a letter of security deposit commitment, which can be used in lieu of a full security deposit payment.
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