Legislation establishing the new fourth round of rules for affordable housing could become law in short order. The Assembly passed its version of the bill, A-4, on February 12. The Senate Budget and Appropriations Committee moved the Senate’s version of the bill forward to a vote by the full Senate with minor amendments. The Senate is scheduled to vote on its version of the bill, S-50, today, Monday, March 18.
If the Senate passes the bill, then the Assembly must pass the bill as amended before it heads to Governor Murphy for approval. The Assembly is scheduled for a voting session today after the Senate’s voting session.
The amended S-50 can be found here, and the Senate Budget and Appropriations Committee statement on the bill, including a detailed list of all amendments, can be found here. My previous posts on this subject can be found here, here, here, and here.
Check back here for a more detailed summary of the legislation upon final passage.