Removes initial mortgage period on new construction from exemptions to municipal rent control and rent leveling ordinances.

This bill repeals sections of the 1987 law that exempt the initial mortgage period on new construction from municipal rent control and rent leveling ordinances. The change applies to new construction where a development application is submitted after the bill's effective date.

Removes initial mortgage period on new construction from exemptions to municipal rent control and rent leveling ordinances.

This bill repeals sections of the 1987 law that exempt the initial mortgage period on new construction from municipal rent control and rent leveling ordinances. The change applies to new construction where a development application is submitted after the bill's effective date.