NJ S3226

Prohibits institutional investors from contacting homeowners, placing bids, or purchasing single-family homes during the first 75 days a property is on the market and available for purchase in New Jersey.

Bans institutional investors from leasing any single-family home they acquire for five years following the purchase date.

Exempts small institutional investors (owning 20 or fewer single-family homes), nonprofit affordable housing organizations, New Jersey-based institutional investors, and properties acquired through foreclosure or eminent domain.

Imposes civil penalties up to $50,000 per violation, requires violators to sell the property within six months and forfeit profits to the Attorney General, and allows affected individuals to recover an additional $20,000 plus legal fees.

Directs penalty revenues to the New Jersey Housing and Mortgage Finance Agency to fund down payment assistance programs for families purchasing single-family homes.