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S 265

Directing the state board of real property tax services to conduct a study on real property tax saturation

2025 Regular Session Introduced by Pete Harckham and 3 co-sponsors

The bill requires three-or-more-floor rental buildings to give qualified seniors or mobility-disabled residents a right of first refusal to move to lower-floor units with the same

REFERRED TO REAL PROPERTY TAXATION
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Bill Summary · S 265

Summary — S.265

Title: Directing the state board of real property tax services to conduct a study on real property tax saturation (bill text pertains to priority housing rights for seniors/disabled in multiple dwellings)

Note on sources: The legislative text and committee reports provided concern a New Jersey bill that gives priority to certain residents in multi‑story rental buildings; other documents attached (a Massachusetts bill and unrelated sponsor metadata) appear to be mismatched and are not reflected in the summary below.

Purpose

To require owners of certain multiple‑dwellings to give priority (a right of first refusal) to qualifying residents — defined as senior citizens or persons with mobility‑limiting disabilities — who seek to move to a unit on a lower floor with the same number of bedrooms. The aim is to help residents with mobility limitations relocate within their building to more accessible, lower‑floor units.

Key provisions

  • Definition: “Qualifying resident” = a senior citizen or a person with a disability that hinders or limits mobility.
  • Covered buildings: multiple dwellings of three or more floors.
  • Priority/right of first refusal:
    • A qualifying resident seeking to move into a lower‑floor unit with the same number of bedrooms is to be granted priority status and a right of first refusal over:
    • Outside applicants applying to move into the building; and
    • Other non‑qualifying residents of the building seeking to move to a lower‑floor unit.
    • The preference is intended for qualifying residents already residing in the building (as clarified in floor amendments).
  • Exemptions (as amended): The requirements do not apply to buildings held in cooperative form of ownership or to condominiums or other common‑interest developments governed by:
    • The Planned Real Estate Development Full Disclosure Act (P.L.1977, c.419; C.45:22A‑21 et seq.),
    • The Condominium Act (P.L.1969, c.257; C.46:8B‑1 et seq.),
    • The Horizontal Property Act (P.L.1963, c.168; C.46:8A‑1 et seq.), or
    • The Cooperative Recording Act of New Jersey (P.L.1987, c.381; C.46:8D‑1 et seq.).
  • Non‑displacement of affordability rules: The priority must not displace existing affordability, targeting, or income restrictions applicable to the building.
  • Notice requirement: The owner (or agent) must post a sign, in the same place and manner as the building’s certificate of registration (see P.L.1967, c.76 §12), informing residents of the priority status.

Who is affected

  • Beneficiaries: Senior citizens and persons with mobility‑limiting disabilities living in covered multi‑floor rental buildings who want to move to lower‑floor units.
  • Obligated parties: Owners (or their agents) of multiple dwellings of three or more floors that are not within the listed common‑interest/cooperative exemptions.
  • Not affected: Cooperative units, most condominiums/common‑interest developments, and developments subject to existing affordability/income restrictions in ways that supersede this bill.

Effective date and procedural status

  • The bill states it takes effect immediately upon enactment.
  • Procedural notes (from provided record):
    • Prefiled in the 2024–2025 session and reported favorably by the Senate Community and Urban Affairs Committee (Sept. 30, 2024).
    • Introduced (Senate) Jan. 2025; subsequently passed the Senate (record shows passage by voice/roll call in early 2025) and was delivered to the Assembly.
    • Referred to Assembly committees (Real Property Taxation / Housing committees) with hearings scheduled (documents show hearings tentatively scheduled Oct. 1, 2025).
    • Floor amendments clarified/exempted certain ownership forms and specified qualifying residents are existing building residents.

Implementation considerations

  • Owners will need procedures to identify qualifying residents, track unit availability and preferences, and post required notices.
  • Conflicts could arise where existing affordability or regulatory restrictions govern unit transfers; the bill preserves those requirements.
  • Enforcement, verification of qualifying status, and remedies for violations are not specified in the provided text and would determine practical impact.

Compiled from official sources — confirm details with the bill’s official record.

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