Sponsored by:
Senator KRISTIN M. CORRADO
District 40 (Bergen, Essex and Passaic)
SYNOPSIS
Permits fair share affordable housing bonus credit for certain housing reserved for occupancy by teachers.
CURRENT VERSION OF TEXT
As introduced.
An Act authorizing fair share obligation bonus credit for affordable housing reserved for teachers and supplementing P.L.1985, c.222 (C.52:27D-301 et al.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. For the purposes of obtaining credit towards a municipality’s fair share obligation, a municipality shall obtain one credit and one-half bonus credit for each unit of low- or moderate-income housing occupied or reserved for occupancy by a low- or moderate-income household with at least one member of the household who is employed as a teacher at the time of initial occupancy of the unit.
b. As used in this section, “teacher” means a person employed in a public or non-public school to teach in preschool through grade 12.
2. This act shall take effect immediately.
STATEMENT
This bill authorizes municipalities to obtain fair share affordable housing bonus credit for certain housing reserved for occupancy by low- and moderate-income households with at least one member of the household who is employed as a teacher. The bill would specifically permit a municipality to obtain one credit and one-half bonus credit for each unit of affordable housing reserved for occupancy by a low- or moderate-income teacher. The bill defines a teacher as a person employed in a public or non-public school to teach in preschool through grade 12. The bill would take effect immediately.