On June 29, Governor Murphy signed into law S-1255, which requires that $20 million of certain realty transfer fee revenues are to be credited each year to the Special Needs Housing Trust Fund, beginning with the first fiscal year next following enactment of the bill. Previously, these funds would be deposited in the General Fund.
Contact: Frank Marshall, Esq., Associate General Counsel, fmarshall@njlm.org, 609-695-3481, x137.