NJ Lawmaker Takes 3rd Swing At Affordable Housing Bill

Law360, New York (February 22, 2013, 5:22 PM EST) -- A New Jersey lawmaker on Thursday introduced, for the third time, legislation that would turn foreclosed properties into affordable housing, following two previous attempts to pass the bill that Gov. Chris Christie vetoed.

State Sen. Raymond Lesniak, D-Union, introduced S-2583, which consists of two acts. One would establish a temporary program to purchase foreclosed homes from banks and repurpose them as affordable housing, while the other would expand incentive programs administered by the state’s Economic Development Authority.

Lesniak's new version of the bill differs from the...
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