Clarifies exemptions to municipal rent control and rent leveling ordinances for newly constructed multiple dwellings.

The bill clarifies and confirms the original intent of P.L.1987, c.153 (C.2A:42-84.1 et seq.) regarding exemptions from municipal rent control and rent leveling ordinances for newly constructed multiple dwellings. It specifies that the exemption applies only to the provisions of a municipal ordinance that directly limit the periodic or regular increases in the base rentals of dwelling units. The exemption is not to extend to any other administrative, disclosure, registration, or tenant protection requirement of a municipal rent control or rent leveling ordinance.

Clarifies exemptions to municipal rent control and rent leveling ordinances for newly constructed multiple dwellings.

The bill clarifies and confirms the original intent of P.L.1987, c.153 (C.2A:42-84.1 et seq.) regarding exemptions from municipal rent control and rent leveling ordinances for newly constructed multiple dwellings. It specifies that the exemption applies only to the provisions of a municipal ordinance that directly limit the periodic or regular increases in the base rentals of dwelling units. The exemption is not to extend to any other administrative, disclosure, registration, or tenant protection requirement of a municipal rent control or rent leveling ordinance.