Legislation sponsored by Senator Christopher J. Connors, Assemblyman Brian E. Rumpf and Assemblywoman DiAnne C. Gove that would permit a portion of municipal development trust funds to be spent on housing affordability assistance to veterans was passed by the New Jersey State Senate.
Legislation sponsored by the 9th district delegation would permit a portion of municipal development trust funds to be spent on housing affordability assistance to veterans. (SenateNJ.com)
The 9th District Legislators made the following remarks upon the Senate’s passage of their veterans’ initiative, S-915:
“Even in a time of hyper-partisanship, it is important to recognize that the Senate still came together on a bipartisan basis to advance our legislation to assist first-time home-buying veterans. This issue takes on added importance, as housing affordability remains a significant issue for veterans, especially in high tax states such as New Jersey.”
“Our proposal seeks to amend current law requiring municipalities to set aside a portion of their development fee trust fund to provide affordability assistance to low and moderate income households.
“Under our bill, 30 percent would be dedicated to assist first-time home-buying veterans, specifically as a down-payment assistance grant of up to $15,000 per individual recipient.
“So as to not impose any new State mandate, the provisions of our bill are permissive, as municipalities would have the option of establishing a program. It’s also important to note that the veterans receiving the proposed assistance grants would be shielded from taxation, and from potentially losing their eligibility to other programs.”
Having passed the full Senate, S-915 now moves to the Assembly where Assemblyman Rumpf and Assemblywoman Gove have introduced the companion legislation, A-696, which is awaiting action by the Assembly Military and Veterans’ Affairs Committee.
Members of the 9th District Delegation serve on the Senate and Assembly Military and Veterans’ Affairs Committees.