New Jersey A3989 prohibits the use and sale of algorithmic devices for setting rent prices or occupancy rates in residential properties.

New Jersey A3989 restricts the use and sale of algorithmic devices for establishing rent prices or occupancy rates of residential properties. The bill defines "algorithmic device" as a software program or service that uses algorithms to calculate non-public competitor data for advising landlords on rent and occupancy rates. The bill exempts trade association reports and products used for affordable housing programs. Violations are subject to penalties under the "New Jersey Antitrust Act," including fines, dissolution of firms, and injunctions.

New Jersey A3989 prohibits the use and sale of algorithmic devices for setting rent prices or occupancy rates in residential properties.

New Jersey A3989 restricts the use and sale of algorithmic devices for establishing rent prices or occupancy rates of residential properties. The bill defines "algorithmic device" as a software program or service that uses algorithms to calculate non-public competitor data for advising landlords on rent and occupancy rates. The bill exempts trade association reports and products used for affordable housing programs. Violations are subject to penalties under the "New Jersey Antitrust Act," including fines, dissolution of firms, and injunctions.