NJ A3290

Creates the "Senior Citizen Tenant Protection Act" establishing rent increase limits for tenants age 55 or older who have lived in the same non-public housing unit for at least 10 years and have household income of $80,000 or less

Limits annual rent increases for qualifying seniors to 75% of the Consumer Price Index increase for their region, as determined by the Commissioner of Community Affairs

Requires the lower of either the bill's rent cap or any applicable municipal rent control ordinance to apply when both are in effect

Allows landlords to apply for hardship waivers if the rent cap would prevent them from generating a reasonable investment return, with the Commissioner setting an adjusted rent amount

Imposes penalties on landlords who exceed allowable rent increases, making them liable for damages of $500 or three times the excess rent charged, plus attorney fees