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S451 Senate Statement 6/18/26
STATEMENT TO
[First Reprint]
SENATE, No. 451
with Senate Floor
Amendments
(Proposed by
Senator STACK)
ADOPTED: JUNE 18,
2026
����� These floor amendments:
1)
title
the bill as the �Forbidding the Algorithmic Inflation of Rent (FAIR) Act;�
2)
make
changes to certain phrasing in the bill�s findings and declarations;
3)
alter
the definitions for �affordability controls,� �coordinating function,� �coordinator,�
and �person;�
4)
add
definitions for �algorithmic device,� �competitively sensitive information,�
�nonpublic information,� �parallel pricing coordination,� �rental property
owner,� and �tacit agreement;�
5)
specify
that it is to be unlawful and a violation of the �New Jersey Antitrust Act,�
P.L.1970, c.73 (C.56:9-1 et seq.) to receive certain services or for:
a.
two
or more persons to engage in or facilitate parallel pricing coordination;
b.
any
agent or representative of a coordinator or subcontractor thereof to engage in
parallel pricing coordination; or
c.
�any
person to perform a coordinating function;
6)
specify
that certain tacit or express agreements constitute unlawful violations under
the bill;
7)
specify
that the bill�s provisions:
a.
do
not limit the application of authorization under current law to investigate
antitrust violations or alleged violations; and
b.
do
not authorize or permit conduct already illegal under current antitrust law;
8)
�specify
that a municipality is prohibited from enacting an ordinance that conflicts
with the bill;
9)
charge
Attorney General with establishing, on the official website of the Department
of Law and Public Safety, a location to receive complaints alleging any
violation or suspected violation of the bill; and
10)
specify that the bill is to
take effect on the first day of the twelfth month after enactment, rather than
the fourth month.