Bill > S3657

Introduced Session

This bill makes it unlawful to use algorithmic systems to influence the price and supply of residential rental units. Under the bill, it is unlawful and a violation of the "New Jersey Antitrust Act" for a rental property owner, or any agent, representative, or subcontractor thereof, to subscribe to, contract with, or otherwise exchange any form of consideration in return for the use of services of a coordinator and for a coordinator to facilitate an agreement among rental property owners that restricts competition with respect to residential dwelling units, including by performing a coordinating function. A "coordinator" is defined in the bill to mean any person who operates a software or data analytics service that performs a coordinating function for any rental property owner, including a rental property owner performing a coordinating function for their own benefit. "Coordinating function" is defined to mean (1) collecting historical or contemporaneous prices, supply levels, or lease or rental contract termination and renewal dates of residential dwelling units from two or more rental property owners; (2) analyzing or processing of the information described in paragraph (1) through use of a system, software, or process that uses computation, including by using the information to train an algorithm; and (3) recommending rental prices, lease renewal terms, or ideal occupancy levels to a rental property owner.

Committee Categories

Teresa Ruiz (D)*,  Brian Stack (D)*,  Angela Mcknight (D),  Raj Mukherji (D), 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 09/26/2024)

Official Document