This bill establishes the Whole-Home Repairs Program within the New Jersey Housing and Mortgage Finance Agency (HMFA) and appropriates $25 million to fund it. The program aims to provide grants and forgivable loans to eligible homeowners and landlords for necessary repairs and modifications to improve the physical condition of residential properties. Eligible homeowners are defined as those with a household income below 80% of the area median income, while eligible landlords are those owning fewer than 10 residential properties. The program will address various concerns, including physical accessibility, habitability, safety, energy efficiency, and weatherization. Additionally, any residential unit receiving assistance must remain affordable to low- and moderate-income households for a period determined by the agency.

The bill outlines the agency's responsibilities, including establishing an application process, prioritizing assistance for low-income households, seniors, and individuals with disabilities, and ensuring that prevailing wage standards are met for any work performed under the program. The agency is also tasked with adopting necessary rules and regulations to implement the program effectively. The Whole-Home Repairs Fund will be created to manage the allocated funds, and the bill mandates that no more than 10% of the awarded funds can be used for administrative purposes.