Governor Murphy Recognizes “The People’s Bill” During 2020 Revised Budget Address

(East Orange, NJ) – During his highly anticipated budget address, Governor Phil Murphy called for one bill in particular to make it to his desk to be signed into law.

“The People’s Bill”, sponsored by Senator Troy Singleton (D-7) Assemblywoman Britnee N. Timberlake (D-34), seeks to ensure landlords receive past due rent overtime without having to evict a tenant for nonpayment due to COVID-19 economic hardship. Instead, the landlord and tenant can work out an affordable re-payment plan or use the repayment plan established in the bill.

Without this bill, hundreds of thousands of families across the garden state will receive eviction and foreclosure notices. Factors like an unexpected death of a family member, loss of employment, or increased childcare expenses are listed as viable reasons for an applicant to be deemed eligible for a rental repayment plan. The bill also enables homeowners and landlords to enter into a fair mortgage forbearance agreement with their lenders, placing past due payments at the end of a loan’s term instead of requiring a large lump sum payment after the forbearance period ends.

For landlords and homeowners seeking mortgage relief and renters seeking an affordable repayment plan, the bill bans negative credit reporting, extra fees, and fines during their time of hardship.

It has been reported that more than 15,000 evictions have already been pre-filed with landlord tenant courts throughout the state. After the devastation of the financial crisis in 2008, New Jersey’s housing market plummeted, making the state home to the highest foreclosure rates in the country. As many families and businesses were just beginning to recover, a grim image of the past may be on the horizon. With “The People’s Bill” still awaiting a vote from the full Senate, families throughout New Jersey are growing fearful of what is to come.

During his address, the Governor gave special recognition to Assemblywoman Timberlake and Senator Singleton for their advocacy on this issue, stressing the need to get the bill signed along with fully funding the Affordable Housing Trust Fund and continuing to build affordable housing throughout the state. If signed into law, “The People’s Bill” will give families throughout New Jersey a second chance while saving the state millions of dollars in funding needed to combat homelessness, therefore creating a path to restore the state’s economy while generating a dose of normalcy during a time of uncertainty.