New Jersey bill restricts institutional investor acquisition of single-family homes and imposes tax penalties on such acquisitions.

The New Jersey bill, titled the "Protection of Homeownership and Limiting Institutional Investor Acquisition Act," imposes limitations and establishes certain incentives and disincentives concerning the acquisition of single-family residences. It restricts institutional investors from placing a bid on or purchasing a single-family home during the first 45 days that the home is available for purchase. It also subjects institutional investors who own or acquire a single-family home to certain taxes.

New Jersey bill restricts institutional investor acquisition of single-family homes and imposes tax penalties on such acquisitions.

The New Jersey bill, titled the "Protection of Homeownership and Limiting Institutional Investor Acquisition Act," imposes limitations and establishes certain incentives and disincentives concerning the acquisition of single-family residences. It restricts institutional investors from placing a bid on or purchasing a single-family home during the first 45 days that the home is available for purchase. It also subjects institutional investors who own or acquire a single-family home to certain taxes.