Establishes "Forbidding the Algorithmic Inflation of Rent (FAIR) Act." *
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
The Forbidding the Algorithmic Inflation of Rent (FAIR) Act aims to prevent landlords from using algorithms to artificially inflate rental prices in New Jersey. This bill focuses on curbing coordinated pricing practices that could lead to higher rents for tenants. It defines key terms related to algorithmic pricing and establishes penalties for engaging in parallel pricing coordination, aligning with existing antitrust laws. The bill also creates a mechanism for reporting suspected violations and sets a timeline for its implementation.
Bill text
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Document of record
- Version
- Fiscal Statement
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Sponsors
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7 on record
Primary sponsors
M. Ruiz
Cosponsors
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