S 3103
Dedicates 50 percent of revenues collected from additional fees and taxes imposed on real property transfers valued over $1 million to Affordable Housing Trust Fund.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill proposes to dedicate half of the revenue generated from extra fees and taxes on real estate sales exceeding $1 million to the New Jersey Affordable Housing Trust Fund. The fund supports programs aimed at increasing the availability of affordable housing throughout the state. Specifically, it modifies existing laws related to these real estate transfer fees and taxes. The bill’s goal is to provide a dedicated funding source for affordable housing initiatives.
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