S 3410
Establishes "Entry-Level Home Production Incentive Act of 2026"; provides project gap financing for low- to middle-income housing development; appropriates $300 million.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill, the "Entry-Level Home Production Incentive Act of 2026," aims to increase the availability of affordable housing in New Jersey by providing project gap financing for low- to middle-income housing developments. It establishes a dedicated fund, the "Entry-Level Home Development Fund," within the New Jersey Housing and Mortgage Finance Agency, and appropriates $300 million to support this effort. The program will offer gap grants and infrastructure loans to developers, prioritizing projects that meet specific criteria, such as occupancy requirements and energy efficiency standards.
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