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NJ A4017

Bill

Status

Introduced

2/12/2026

Primary Sponsor

Alex Sauickie

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Requires domestic and foreign limited liability companies purchasing residential rental property (1-2 units or multiple dwellings) to file an affidavit disclosing the registered agent's name and business address, plus at least one member if the agent is not a member.

  • Mandates disclosure of beneficial owner information including full legal name, date of birth, current business street address, and a unique identifying number from acceptable identification documents as defined under federal law.

  • Defines "beneficial owner" as an individual who directly or indirectly owns at least 25% of the entity and holds the greatest ownership interest, or if no one owns more than 25%, the individual with the greatest ownership interest.

  • Authorizes municipalities to adopt ordinances allowing unpaid housing, building, or health code charges against LLC-owned rental properties to become liens if unpaid after 13 months, enforceable like real property tax liens.

  • Requires municipalities to provide 90 days written notice to property owners before converting unpaid charges to liens, with opportunity to pay or request a hearing.

Legislative Description

Requires limited liability company to disclose ownership information when submitting deed for recording.

Commerce and Economic Development

Last Action

Introduced, Referred to Assembly Commerce and Economic Development Committee

2/12/2026

Committee Referrals

Commerce and Economic Development2/12/2026

Full Bill Text

No bill text available