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Assembly Appropriations Committee Advances FAIR Act
A3497 (Lopez, D-19), known as the “Forbidding the Algorithmic Inflation of Rent (FAIR) Act,” was released by the Assembly Appropriations Committee. The legislation would prohibit the use of certain algorithmic systems in setting residential rental prices. NJBA strongly opposes the bill because of concerns regarding housing investment, multifamily operations, and potential unintended consequences for New Jersey’s rental housing market. Click here for more information.
Senate Environment and Energy Committee Reviews Construction Containment Legislation
S4058 (McKeon, D-27), known as the “Construction Containment and Pollution Prevention Act,” was released by the Senate Environment and Energy Committee. The legislation would establish new containment requirements for certain construction activities intended to prevent pollutants from leaving worksites. NJBA opposes the bill because of concerns regarding implementation, compliance costs, and potential impacts on residential construction and redevelopment projects. Click here for more information. Click here for more information.
Assembly Housing Committee Reviews Homelessness Prevention Program Changes
A3481 (Lopez, D-19) was released by the Assembly Housing Committee. The legislation would revise the State’s Homelessness Prevention Program and establish a new charge on eviction filings. NJBA remains opposed unless amended because of concerns regarding additional costs imposed on housing providers and the potential impact on housing operations. Click here for more information.
Legislature Continues Review of Distressed Property Redevelopment Measures
A794 (Bailey, D-3), which concerns procedures involving abandoned, vacant, and tax-delinquent properties, received committee consideration this week. NJBA continues to monitor redevelopment-related legislation that may affect efforts to return underutilized properties to productive use and support community revitalization. Click here for more information.
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