A 3469
Establishes "Guaranteed Rental Payment Pilot Program" for certain low-income tenants; appropriates $10,000,000.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes the ‘Guaranteed Rental Payment Pilot Program’ in New Jersey to study how to improve housing opportunities for low-income tenants with poor credit histories. It will collect data on rental payment defaults and compare them to tenants with better credit. The program will guarantee landlords payments for lease violations, up to $10 million will be appropriated to a dedicated fund to cover these reimbursements, and tenants will be required to repay the funds over time. The pilot program will also address habitability issues within rental units.
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