This bill aims to establish a preference for low to moderate income veterans in affordable housing projects, mandating that developers, residential development owners, or administrative agents provide this preference for at least 50 percent of the affordable units in a project, regardless of the veterans' war service. The bill also includes provisions for outreach by the Department of Military and Veterans Affairs to ensure veterans are aware of this preference and the necessary steps to access it. Additionally, the department is required to maintain a registry of interested veterans to facilitate this outreach and ensure that eligible veterans are prioritized for affordable housing before non-veterans.

Furthermore, the bill introduces a bonus fair share credit system for municipalities, allowing them to receive one unit of credit and one-half bonus credit for each affordable housing unit occupied or reserved for low or moderate income veterans. The Commissioner of Community Affairs is tasked with adopting the necessary rules and regulations to implement the bill, which will take effect four months after its enactment. Overall, the legislation seeks to enhance affordable housing opportunities for veterans while providing municipalities with incentives to support these initiatives.

Statutes affected:
Introduced: 52:27D-311