By a unanimous vote, the full State Senate passed legislation (S-957) 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.
The State Senate unanimously passed legislation sponsored by Connors, Rumpf & Gove that would permit a portion of municipal development trust funds to be spent on housing affordability assistance to veterans. (WikiMedia Commons)
“As members of our Delegation serve, respectively, on Senate and Assembly Military and Veterans’ Affairs Committees, we continue to work in a bipartisan fashion to improve the lives of our men and women in uniform,” remarked the 9th District Delegation in a jointly issued statement.
“It’s no secret that the cost of owning a home in New Jersey can be expensive. To assist first-time homebuying veterans, we’re proposing to amend current law that permits a municipality authorized to collect affordable housing fees, to set aside amounts from the fees collected to provide certain affordability assistance programs.
“Under our legislative proposal, 30 percent of these affordability assistance funds could be dedicated to assist first-time homebuying veterans, specifically as a down-payment assistance grant of up to $15,000 per individual recipient. So as to not impose State mandates on local governments, the provisions of our legislation would be permissive.
“The Senate vote demonstrated the substantial level of support for our veterans’ initiative, as housing is a significant issue for those serving in our Armed Forces. Now, the Assembly needs to take the necessary action to pass this bipartisan legislation and so it can be placed on the Governor’s desk.”
The identical companion measure, A-914, is awaiting action by the Assembly Military and Veterans’ Affairs Committee.
Related Facebook Post: