Makes FY2026 supplemental appropriation of $30 million to DCA for Neighborhood Revitalization Tax Credit program.

2026-2027 Regular Session Introduced by Joe Danielsen and 1 co-sponsor

Adds a $30 million FY2026 supplemental appropriation to the DCA to fund Neighborhood Revitalization Tax Credit grants for nonprofit-led neighborhood revitalization projects in low-

Introduced, Referred to Assembly Community Development and Women's Affairs Committee

Overview

Bill: Assembly No. 4697 (A4697)

Session: 222nd Legislature, New Jersey

Introduced: March 16, 2026

Sponsors: Assemblywoman Verlina Reynolds-Jackson (District 15) and Assemblyman Joe Danielsen (District 17)

Jurisdiction: New Jersey, Department of Community Affairs (DCA)

Purpose: Make a FY2026 supplemental appropriation of $30 million to the DCA for the Neighborhood Revitalization Tax Credit (NRTC) program

Main Purpose and Intent

The bill adds a supplemental General Fund appropriation of $30 million for the Department of Community Affairs in the fiscal year ending June 30, 2026.

The funds are designated to support the Neighborhood Revitalization Tax Credit program, which provides grants to community nonprofit organizations underwriting revitalization projects in low- and moderate-income neighborhoods.

Key Provisions and Changes

Appropriation:

Adds $30,000,000 to the Grants-in-Aid: Housing Services line (02-8020) under the DCA’s Community Development Management budget.
Specifically earmarked as a Grants-in-Aid for the Neighborhood Revitalization Tax Credit Program:
Amount: $30,000,000
Location: 02 Neighborhood Revitalization Tax Credit Program (within Grants-in-Aid)

Fiscal impact:

Increases the FY2026 General Fund appropriation to the DCA by $30 million.
The appropriation is earmarked to support nonprofit grants for neighborhood revitalization projects financed through the NRTC program.

Effective date:

Immediate effect upon enactment (takes effect immediately).

Who/What Is Affected

State Agency:

Department of Community Affairs (DCA) gains a $30 million supplemental appropriation.

Program:

Neighborhood Revitalization Tax Credit (NRTC) Program, enabling greater grant funding for community nonprofit organizations implementing revitalization projects.

Beneficiaries:

Local communities, particularly low- and moderate-income neighborhoods, through nonprofit organizations that carry out approved revitalization projects.

Procedural and Timeline Considerations

Legislative action:

Introduced and referred to the Assembly Committee on Community Development and Women’s Affairs on March 16, 2026.

No specified sunset or renewal changes in the text; the supplemental appropriation is framed for FY2026.

Implementation:

The grant funding would flow through the DCA to qualified nonprofit grantees under the NRTC program, contingent on DCA approvals and program administration.

Summary

A4697 proposes a FY2026 supplemental General Fund appropriation of $30 million to the New Jersey Department of Community Affairs to support the Neighborhood Revitalization Tax Credit program. The funds are intended to provide grants to nonprofit organizations for neighborhood revitalization projects in low- and moderate-income areas, financed through the NRTC mechanism. The bill takes effect immediately and adds to the existing NRTC funding by $30 million, to be administered by the DCA under the Grants-in-Aid, Housing Services line.