ASSEMBLY HOUSING COMMITTEE

STATEMENT TO

ASSEMBLY, No. 2379

with committee amendments

STATE OF NEW JERSEY

DATED: NOVEMBER 7, 1996

      The Assembly Housing Committee reports favorably Assembly Bill No. 2379, with committee amendments.

      This bill amends the law, P.L.1987, c.153, which provided an exemption from rent control or rent leveling ordinances for newly constructed multiple dwellings, by removing the sunset provision of the law which provided that the law was to expire in June, 1997. The amendments therefore make the exemption from rent control or rent leveling ordinances for newly constructed multiple dwellings permanent.

      The committee amended the bill to make the exemption from rent control ordinances permanent. As introduced, the bill extended the exemption for five years.