On Monday, A-4602 was reported favorably out of the Assembly Appropriations Committee.
This legislation would extend the deadline for municipalities to report non-residential development fee information. The recently signed law overhauling the state’s affordable housing policy included various deadlines for different reporting requirements imposed on municipalities. One reporting requirement is for any municipality that is or has been authorized to retain and expend non-residential development fees to provide the Department of Community Affairs (DCA) with a detailed accounting of all such fees that have been collected and expended since the inception of the municipal authorization to collect those fees.
Under current law, municipalities were required to provide their first accounting to the DCA by June 18, 2024, then by February 15 of each year thereafter.
This legislation would extend this deadline by an additional 90 days and would apply retroactively to the enforceability of penalties for noncompliance. The League supports this commonsense legislation as it allows additional time for municipalities to provide the necessary reports.
The Senate counterpart, S-3385, was reported out of committee last week. Both bills are anticipated to be voted on in their respective houses later this week.
Contact: Frank Marshall, Esq., Associate General Counsel, fmarshall@njlm.org, 609-695-3481, x137.