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Bill

A 2421

Establishes "Security Deposit Assistance Pilot Program" in Passaic, Union, Essex, Hudson, Gloucester, Atlantic, Camden, and Mercer counties; appropriates $400,000.

2024-2025 Regular Session Introduced by Bill Moen and 3 co-sponsors

New Jersey allocates $400,000 to help low-income renters cover security deposits in eight counties, removing a major barrier to housing access.

Introduced in the Assembly, Referred to Assembly Community Development and Women's Affairs Committee
#counties #housingfin
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Bill Summary · A 2421

Legislative bill overview

Bill A 2421 creates a pilot program to provide financial assistance for security deposits to renters in eight New Jersey counties (Passaic, Union, Essex, Hudson, Gloucester, Atlantic, Camden, and Mercer). The program is funded with $400,000 in state appropriations and aims to reduce barriers to housing access for lower-income individuals.

Why is this important

Security deposits often represent a significant financial obstacle for low-income renters, preventing them from securing housing even when they can afford monthly rent. By removing this barrier in high-density, economically diverse counties, the program could increase housing stability and reduce homelessness while supporting local rental markets.

Potential points of contention

  • Program scope and targeting: Unclear whether assistance prioritizes specific populations (families, elderly, formerly incarcerated) or has income thresholds, which affects perceived fairness and program efficiency
  • Landlord participation and incentives: No detail on whether landlords voluntarily participate or how the program encourages their cooperation, raising questions about actual implementation feasibility
  • Long-term sustainability and evaluation: $400,000 across eight counties may be limited, and the bill's "pilot" status lacks clear metrics for success or pathways to statewide expansion, making it unclear if results can be measured and replicated

Compiled from official sources — confirm details with the bill’s official record.

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