New Jersey § 2a:42-84

§ 2a:42-84.

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.