New Jersey Housing Bills

Provides for establishment of pilot program for acquiring abandoned properties in certain municipalities and develop land bank agreement.

Modifies procedures for determination and payment of fair market value in distressed municipalities; concerns real property that is abandoned, vacant, or subject to unpaid taxes.

Concerns definition of veteran for purpose of affordable housing preference.

Establishes first-time homebuyer savings program and provides gross income tax benefits for accounts established under the program.

Concerns authority of municipal governing body to notify insurance company if there is activity at rental property which is suspected to violate general terms of rental property insurance policy.

Requires State to issue biennial report of unutilized State-owned property and potential for use as affordable housing.

Proposes constitutional amendment to increase amount of veterans' property tax deduction from $250 to $500 and provide further increases based on increases in Consumer Price Index.

Enhances protections against fraudulent deed recordings.

Requires Office of Eviction Prevention to publish eviction-related data.

Regulates deceptive use of artificial intelligence in photo advertising of certain dwellings.

Prohibits class action waivers in residential rental agreements for claims arising from violations of rent control laws.

Supplements FY2027 Appropriations Act; makes $10 million off-budget appropriation to NJSHARES - S.M.A.R.T. Program.*

Establishes certain protections against deed theft.

Provides for establishment of pilot program for acquiring abandoned properties in certain municipalities and develop land bank agreement.

Modifies procedures for determination and payment of fair market value in distressed municipalities; concerns real property that is abandoned, vacant, or subject to unpaid taxes.*

Requires Office of Eviction Prevention to publish eviction-related data.

Requires State to issue biennial report of unutilized State-owned property and potential for use as affordable housing.*

Permits mortgage loan originators to work from remote locations under certain circumstances.

Expands Neighborhood Revitalization Tax Credit Program including eligible neighborhoods and annual tax credit limit.

Concerns authority of municipal governing body to notify insurance company if there is activity at rental property which is suspected to violate general terms of rental property insurance policy.