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 released by the Senate Community and Urban Affairs Committee.
Sen. Christopher J. Connors, Asm. Brian E. Rumpf and Asw. DiAnne C. Gove sponsor a measure that would help veterans purchase their first homes with down payment assistance grants from municipal development trust funds. (©iStock)
The 9th District Legislators made the following remarks upon the Senate’s passage of their veterans’ initiative, S-957:
“Simply, the intent of our bipartisan legislation is to help first-time home-buying veterans realize the dream of owning their own homes, which as we all know can be financially challenging in this state.
“Current law permits a municipality authorized to collect affordable housing fees to set aside amounts from the fees to provide certain affordability assistance programs. We are proposing that up to 30 percent of these affordability assistance funds could be dedicated to assist first-time home-buying veterans, specifically as a down-payment assistance grant of up to $15,000 per individual recipient.
“Veterans receiving the proposed assistance grants would be shielded from taxation of the grant funds, and from potentially losing their eligibility to other State programs. Additionally, our bill is permissive in that municipalities would have the option of establishing a program, meaning that no State mandates would be imposed.”
The 9th District Delegation’s veterans’ proposal passed the Senate in the previous 2018-2019 Legislative Session but was stalled in the Assembly.
Members of the 9th District Delegation serve on the Senate and Assembly Military and Veterans’ Affairs Committees.
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