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

Also relevant to:Renter Union member / worker

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Plain-English Summary

This bill creates a pilot program in eight New Jersey counties to help low-income households pay security deposits for rental housing. If approved, a household receives a letter of commitment that landlords must accept in lieu of a full deposit, and the tenant pays a portion of the deposit monthly. The program is funded with $400,000 and will be evaluated after three years.

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