NJ A4104

Imposes a $20,000 annual State tax per property on hedge funds, private equity firms, real estate investment trusts, and other business entities that own more than 20 single-family residences (1-4 unit properties) in New Jersey

Exempts covered taxpayers from the tax for any year in which they reduce their residential property holdings by at least 10% from the beginning of the year, encouraging divestment to individual homebuyers

Excludes nonprofit organizations, mortgage note holders who acquired properties through foreclosure, home builders engaged in construction or rehabilitation, and owners of federally subsidized housing from the tax

Requires purchasers acquiring properties from covered taxpayers to certify they do not own a majority interest in other single-family residences, with a $20,000 penalty for false certifications

Directs all tax revenue, penalties, and interest to the New Jersey Housing and Mortgage Finance Agency to fund down payment assistance programs, with priority given to families purchasing homes sold by covered taxpayers