This bill appropriates $125 million from the General Fund to the "New Jersey Affordable Housing Trust Fund" (NJAHTF) to support the creation of affordable housing. The funding aims to restore budget diversions that have occurred from the NJAHTF, particularly those outlined in the State Fiscal Year 2026 Appropriations Act. The allocated funds will be utilized for awarding grants and loans for housing projects and programs in municipalities that have received compliance certification for their fair share plans and housing elements, as well as for other authorized purposes under existing law.

The act is set to take effect immediately upon passage. By reinstating this funding, the bill seeks to enhance the availability of affordable housing in New Jersey, addressing the ongoing housing crisis and ensuring that municipalities can effectively implement their housing strategies.