CNBNews

(TRENTON) – Legislation designed to create a housing market that is equitable and accessible to all New Jersey residents cleared the New Jersey General Assembly today. The bills are part of the Assembly Democrats’ ongoing efforts to address housing affordability and decrease the housing shortage statewide.

“Every New Jersey resident deserves a place to call their own – whether that’s buying a home or renting an apartment – at a price they can afford,” said Assemblywoman Yvonne Lopez (D-Middlesex), Chair of the Assembly Housing Committee. “Housing policy isn’t just about buildings – it’s about dignity, access, and stability. That’s why we took steps today to improve how we develop, regulate, and expand housing across the state.”

Assemblywoman Lopez noted that Assembly Democrats advanced bills today that would benefit renters, and home-seekers alike, while also spurring construction on new housing statewide.

Bill A5432, sponsored by Assemblywoman Lopez and Assemblyman Cody Miller, would establish standards for determining an unconscionable rent increase. The bill would create standards to address large, predatory rent increases and prevent bad actors from taking advantage of renters. Another bill, A4899, sponsored by Assemblywoman Linda Carter and Assemblywoman Lopez, would limit the application fees to apply for a rental property and establish a penalty for violations.

Bill A4913, sponsored by Assembly Speaker Craig J. Coughlin and Assemblywomen Shanique Speight and Verlina Reynolds-Jackson, would address New Jersey's housing shortage by incentivizing municipalities for making efforts to update their zoning laws to encourage new housing in their communities. Municipalities that choose to modernize their zoning practices to encourage smart housing development could be placed at the front of the line for transportation projects, school construction and other community development activities.

Bill A5424, sponsored by Assemblywoman Lopez and Assemblyman Reginald Atkins, would impose fees on large corporate investors who hold abandoned or vacant residential properties, pushing them to either improve, rent, or sell those homes more quickly and return them to the market.

Bill A3361, sponsored by Assemblymen Dan Hutchison and William F. Moen, Jr. and Assemblywoman Barbara McCann Stamato, also advanced today. The legislation would limit the annual lot rent increases that landlords can charge mobile homeowners and other manufactured home park residents.

Bill S1277/A3363, sponsored by Assemblyman Miller and Assemblywoman Reynolds-Jackson, aims to help people actively seeking housing. The legislation would create a centralized directory for affordable housing and housing for senior citizens and veterans. This ensures seniors and veterans have easy, streamlined access to affordable housing options.