New Jersey S1415 permits for-profit affordable housing entities to join joint insurance funds with non-profit entities and housing authorities.
New Jersey S1415 amends existing law to allow for-profit affordable housing entities to establish or join joint insurance funds with non-profit housing entities and housing authorities. These funds are intended to provide insurance for housing projects serving low and moderate-income populations. Notably, for-profit entities are barred from joining funds that include local government units such as municipalities, counties, boards of education, or fire districts.
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