SENATE COMMUNITY AFFAIRS COMMITTEE

STATEMENT TO

SENATE, No. 1619

with committee amendments

STATE OF NEW JERSEY

DATED: JANUARY 14, 1997

      The Senate Community Affairs Committee reports favorably and with committee amendments Senate Bill No. 1619.

      As amended by the committee, this bill would make the exemption from rent control or rent leveling ordinances for newly constructed multiple dwellings permanent. Current law contains a sunset provision which provides that the exemption will expire June 25, 1997.

      The committee amendments delete the entire sunset provision from the bill. As introduced, the bill contained a provision that would have extended the exemption for an additional five years.

      These amendments make the bill identical to Assembly Bill No. 2379 (1R) which currently is on second reading in the General Assembly.