Bill
Bill > A6085
NJ A6085
NJ A6085Removes initial mortgage period on new construction from exemptions to municipal rent control and rent leveling ordinances.
summary
Introduced
11/15/2021
11/15/2021
In Committee
12/13/2021
12/13/2021
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill would repeal sections 1 through 7 of P.L.1987, c.153 (C.2A:42-84.1 et seq.) in order to remove the initial mortgage period on new construction from the exemptions that are required by State law to be applied to municipal rent control and rent leveling ordinances. The bill would take effect immediately, and would apply to new construction for which an application for development is submitted subsequent to the effective date of this act.
AI Summary
This bill would repeal the sections of state law that exempt new construction from municipal rent control and rent leveling ordinances during the initial mortgage period. This would remove the exemption, meaning that municipal rent control and rent leveling ordinances would apply to new construction as well. The bill would take effect immediately and apply to new development projects for which an application has been submitted after the bill's effective date.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Reported out of Assembly Committee, 2nd Reading (on 12/13/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2020/Bills/A9999/6085_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/A9999/6085_I1.PDF |
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