NJ A5451

Prohibits institutional investors (partnerships, corporations, LLCs, trusts, and their affiliates, subsidiaries, or beneficial owners) from bidding on, acquiring, or purchasing single-family homes (1-4 unit residential properties including townhomes) in New Jersey

Exempts nonprofit organizations providing affordable housing, family trusts, family limited liability companies, "small institutional investors" owning four or fewer single-family homes, financial institutions acquiring through foreclosure, government entities, and public utilities

Requires all institutional investors to file annual reports by April 15 with the Department of Community Affairs disclosing the number of single-family homes bid on, acquired, or purchased in the previous tax year

Violators must sell the property within six months, with profits payable to the Attorney General; civil penalties of $500 per day for first offenses and $1,000 per day for subsequent violations

Takes effect on the first day of the sixth month following enactment and applies to all bids, contracts, and acquisitions occurring after the effective date