A 4524
"Protection of Homeownership and Limiting Institutional Investor Acquisition Act"; imposes limitations and establishes certain incentives and disincentives concerning acquisition of single-family residences.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill, titled the "Protection of Homeownership and Limiting Institutional Investor Acquisition Act," aims to preserve homeownership in New Jersey by placing restrictions on institutional investors purchasing single-family homes. It establishes incentives and disincentives for these investors, including a 45-day restriction on contacting homeowners and potential buyers, and proposes tax adjustments. The bill also seeks to address concerns about the impact of institutional investment on housing affordability and market dynamics, and defines key terms related to the legislation.
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Primary sponsors
Cosponsors
Vincent Kearney
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