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, specifically addressing the amount diverted through the State Fiscal Year 2026 Appropriations Act. The appropriated 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 bill is set to take effect immediately upon enactment, emphasizing the urgency of addressing affordable housing needs in New Jersey. By restoring financial support to the NJAHTF, the legislation seeks to enhance the availability of affordable housing options and ensure compliance with state housing mandates.