Restricts purchase of single-family homes by certain institutional investors.
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill restricts the ability of certain institutional investors to purchase single-family homes in New Jersey during the first 75 days after a property is listed for sale. It defines ‘institutional investor’ and outlines specific exemptions, such as nonprofit housing organizations and small investors. The bill requires annual reporting of purchases to the state’s tax agency and imposes penalties for violations, including requiring the sale of purchased properties within six months. It aims to preserve the availability of single-family homes for local residents.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Introduced
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Vincent Polistina
Cosponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours