Bill Text: NJ A691 | 2024-2025 | Regular Session | Introduced
Bill Title: Restricts occupancy of dwelling unit in age-restricted community to older adults following resale.
Spectrum: Unknown
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Aging and Human Services Committee [A691 Detail]
Download: New_Jersey-2024-A691-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman MICHAEL TORRISSI, JR.
District 8 (Atlantic and Burlington)
SYNOPSIS
Restricts occupancy of dwelling unit in age-restricted community to older adults following resale.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning certain age-restricted communities and amending and supplementing P.L.2008, c.71.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 2 of P.L.2008, c.71 (C.45:22A-46.2) is amended to read as follows:
2. Notwithstanding any law or governing document to the contrary, the purchaser or grantee by operation of law of a dwelling unit in an age-restricted community shall be required to certify, prior to the resale or transfer by operation of law of a dwelling unit within the community, that the dwelling unit will be occupied by a person of an age that ensures compliance with the "housing for older persons" exception from the federal "Fair Housing Amendments Act of 1988," Pub.L.100-430 (42 U.S.C. ss.3601 et seq.) for that community as set forth in section 100.301 of Title 24, Code of Federal Regulations. The certification shall be on such form as may be prescribed by the Commissioner of Community Affairs, but shall not exceed one page in length. A copy of the certification shall be provided to the purchaser for recording. For the purpose of P.L.2008, c.71 (C.45:22A-46.1 et al.), "resale" shall mean any sale of a dwelling unit within an age-restricted community, other than the initial sale of the unit made by the developer to a purchaser, and shall include a tax or mortgage foreclosure sale, execution sale, or bankruptcy sale.
(cf: P.L.2008, c.71, s.2)
2. (New section) Following resale or transfer by law of a dwelling unit in an age-restricted community, occupancy of the unit shall be restricted to a person of an age allowing the community to maintain its status as "housing for older persons," as defined in the federal "Fair Housing Amendments Act of 1988," Pub.L.100-430 (42 U.S.C. ss.3601 et seq.), subject to the requirements set forth in subpart E of part 100 of Title 24, Code of Federal Regulations, notwithstanding that the resale or transfer by law of the unit was for affordable housing purposes and that occupancy of the unit may be restricted to low- or moderate-income households. For the purpose of this section, "resale" shall mean resale as defined in section 2 of P.L.2008, c.71 (C.45:22A-46.2).
3. This act shall take
effect immediately.
STATEMENT
This bill requires dwelling units in an age-restricted community that are transferred by resale to remain occupied by households that will allow the age-restricted community to remain "housing for older persons," as defined by the federal "Fair Housing Amendments Act of 1988," 46 U.S.C. ss.3601 et seq. This bill also clarifies the definition of "resale" in P.L.2008, c.71 to provide that resale includes mortgage and tax foreclosure sales, execution sales, and bankruptcy sales.
The sponsors intend this legislation to preserve age-restricted properties' unique status by requiring that dwelling units transferred by resale, even for affordable housing purposes, continue to be occupied by older adults.
