New JerseyNew Jersey would raise ANCHOR payments for eligible older renters
Starting in fiscal year 2028, New Jersey would provide at least $1,500 yearly through ANCHOR to eligible renters 65 or older with gross incomes up to $150,000.
What it does
Starting in fiscal year 2028, annual state budgets would provide at least $1,500 in total ANCHOR benefits to eligible renters 65 or older with gross incomes of $150,000 or less.
Argument forLarger ANCHOR payments could help eligible renters 65 or older cover rent and other household bills.
Argument againstRequiring larger payments to eligible older renters could leave less state money available for other services.
More detail
Annual state budgets would provide eligible older renters at least $1,500 in total ANCHOR benefits. Renters must be New Jersey residents age 65 or older and rent their main home. Gross income must be $150,000 or less for the tax year used to decide ANCHOR eligibility. The minimum payment would begin in state fiscal year 2028. The act would take effect immediately upon becoming law.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 19Introduced, Referred to Assembly Aging and Human Services CommitteeIntroduced
HousingTaxes & Budget