This bill establishes a preference for low- and moderate-income veterans in affordable housing projects, requiring that at least 50 percent of affordable units in such developments be reserved for veterans of the United States Armed Forces, including those from Reserve Components and the New Jersey National Guard, regardless of wartime service. It applies to both rental and ownership housing and introduces provisions for municipalities to receive bonus fair share credits for affordable housing units occupied or reserved for veterans. The bill also mandates that developers and residential development owners prioritize veterans in the selection process, ensuring that those who apply within the first 90 days of the marketing period receive preference, while creating a special waiting list for veterans for future availability.

Additionally, the bill enhances outreach efforts by the Department of Military and Veterans Affairs (DMVA) to ensure veterans are aware of their housing preferences and the steps to access them. The DMVA is required to maintain a registry of veterans interested in affordable housing, including their preferred regions or municipalities. Municipalities are incentivized through credits for each unit occupied or reserved for low- or moderate-income veterans, and the Commissioner of Community Affairs is tasked with adopting rules and regulations to implement the bill's provisions in consultation with the DMVA. The legislation is set to take effect on the first day of the fourth month following its enactment.

Statutes affected:
Introduced: 52:27D-311