Amended 1999, c. 291, § 2.
2A:42-84.6. Construction of multiple dwellings encouraged
It is the intent of this act to establish an experimental program whereby the construction of
multiple dwellings in this State shall be encouraged, and the marketability of those multiple
dwellings shall be maintained, to the greatest extent economically possible, through the
exemption by law of newly constructed multiple dwellings from rent control, rent leveling and
rent stabilization ordinances. The Legislature, therefore, declares it to be public policy of this
State that, within the limitations imposed by this act, the exemptions granted under this act shall
not be limited, diminished, altered, or impaired during the period of exemption afforded, in order
to maintain in this respect a predictable environment within which the financing, construction
and marketing of new multiple dwellings can occur, and to permit the Legislature to evaluate the
results of the experimental program after a specified period of time during which the program
shall have been given a fair opportunity for success, and during which the coherence of the
statutory scheme establishing the program has been preserved.
Attachment C