New Jersey § 55:14k-8

§ 55:14k-8.

a. Admission to housing projects constructed, improved or rehabilitated under this

act shall be limited to families whose gross aggregate family income at the time of

admission does not exceed six times the annual rental or carrying charges, including

the value or cost to them of heat, light, water, sewerage, parking facilities and

cooking fuel, of the dwellings that may be furnished to such families, or seven times

those charges if there are three or more dependents. There may be included in the carrying charges to any family for residence in any

mutual housing project constructed, improved or rehabilitated with a loan from the

agency an amount equal to 6% of the original cash investment of the family in the

mutual housing project and, to the extent authorized by the agency where not included

in the carrying charges, the value or cost of repainting the apartment and replacing

any fixtures or appliances. Notwithstanding the provisions of this section, no family or individual shall be

eligible for admission to any housing project constructed, improved or rehabilitated

with a loan from the agency, whose gross aggregate family income exceeds such amount

as shall be established from time to time by the agency, by rules or regulations promulgated

hereunder; except that with respect to any project financed by an agency loan insured

or guaranteed by the United States of America or any agency or instrumentality thereof,

the agency may adopt the admission standards for such projects then currently utilized

or required by the guarantor or insurer. The provisions of this subsection shall not apply to any housing project that the

agency determines is necessary to promote the long term development and viability

of a neighborhood and spur its revitalization or is situated in a qualified municipality

that is constructed, improved or rehabilitated on or after the date upon which the

commissioner determines that the municipality fulfills the definition of a qualified

municipality pursuant to section 4 of P.L.2002, c. 43 ( C.52:27BBB-4 ). b. The agency shall by rules and regulations provide for the periodic examination

of the income of any person or family residing in any housing project constructed,

improved or rehabilitated with a loan from the agency. If the gross aggregate family income of a family residing in a housing project increases

and the ratio to the current rental or carrying charges of the dwelling unit becomes

greater than the ratio prescribed for admission in subsection a. of this section but

is not more than 25% above the family income so prescribed for admission to the project,

the owner or managing agent of the housing project shall permit the family to continue

to occupy the unit. The agency or (with the approval of the agency) the housing sponsor of any housing

project constructed, improved or rehabilitated with a loan from the agency, may terminate

the tenancy or interest of any family residing in the housing project whose gross

aggregate family income exceeds by 25% or more the amount prescribed herein and which

continues to do so for a period of six months or more; but no tenancy or interest

of any such family in any such housing project shall be terminated except upon reasonable

notice and opportunity to obtain suitable alternate housing, in accordance with rules

and regulations of the agency; and any such family, with the approval of the agency,

may be permitted to continue to occupy the unit, subject to payment of a rent or carrying

charge surcharge to the housing sponsor in accordance with a schedule of surcharges

fixed by the agency. The housing sponsor shall pay the surcharge to the municipality granting tax exemption,

but only up to an amount that together with payments made to the municipality in lieu

of taxes and for any land taxes equals 25% of the total rents or carrying charges

of the housing project for the current and any prior years that the project has been

in operation. The provisions of this subsection shall not apply to any housing project situated

in a qualified municipality that is constructed, improved or rehabilitated on or after

the date upon which the commissioner determines that the municipality fulfills the

definition of a qualified municipality pursuant to section 4 of P.L.2002, c. 43 ( C.52:27BBB-4 ). c. For projects on which the agency has made a loan and financed the loan with the

proceeds of bonds issued prior to January 1, 1973, any remainder of the surcharge,

or the total surcharge if tax exemption has not been granted, shall be paid into the

housing finance fund securing the bonds issued to finance the project for the use

of the agency; for projects financed on or after January 1, 1973, any remainder of

the surcharge, or the total surcharge if tax exemption has not been granted, shall

be paid to the agency. d. Any family residing in a mutual housing project required to remove from the project

because of excessive income as herein provided shall be discharged from liability

on any note, bond or other evidence of indebtedness relating thereto and shall be

reimbursed, in accordance with the rules of the agency, for all sums paid by the family

to the housing sponsor on account of the purchase of stock or debentures as a condition

of occupancy or on account of the acquisition of title for such purpose. The provisions of this subsection shall not apply to any housing project situated

in a qualified municipality that is constructed, improved or rehabilitated on or after

the date upon which the commissioner determines that the municipality fulfills the

definition of a qualified municipality pursuant to section 4 of P.L.2002, c. 43 ( C.52:27BBB-4 ). e. The agency shall establish admission rules and regulations for any housing project

financed in whole or in part by loans authorized hereunder which shall provide priority

categories for persons displaced by urban renewal projects, highway programs or other

public works, persons living in substandard housing, persons and families who, by

reason of family income, family size or disabilities, have special needs, elderly

persons and families living under conditions violative of minimum health and safety

standards. The provisions of this subsection shall not apply to any housing project situated

in a qualified municipality that is constructed, improved or rehabilitated on or after

the date upon which the commissioner determines that the municipality fulfills the

definition of a qualified municipality pursuant to section 4 of P.L.2002, c. 43 ( C.52:27BBB-4 ). f. Notwithstanding the provisions of subsection e. of this section, the Commissioner

of Community Affairs, in consultation with the Adjutant General of Military and Veterans'

Affairs, shall promulgate admission rules and regulations for any housing project,

financed in whole or in part by loans authorized hereunder, to provide a housing preference

for veterans and surviving spouses, as those terms are defined under subsection (h)

of section 1 of P.L.1963, c. 171 ( C.54:4-8.10 ), who qualify for public housing assistance, and for the spouses of veterans who

currently so qualify.