This bill establishes a Rent Control Enforcement Unit (RCEU) within the New Jersey Department of Community Affairs (DCA) to oversee and enforce local rent restrictions. The RCEU will allow residential tenants to petition for investigations into alleged violations of these restrictions, which include ordinances or regulations that limit rent increases. The bill outlines the authority of the RCEU to enforce penalties against landlords, which may include mandatory rent reductions, financial penalties up to four months of rent, or allowing tenants to terminate their leases early. Additionally, the RCEU is required to provide a dedicated helpline and an online portal for tenant assistance and reporting violations.

To support the RCEU's operations, the bill creates a special nonlapsing fund, the "Rent Control Enforcement Fund," and appropriates $3 million from the General Fund for its establishment. The bill mandates that the Legislature annually allocate necessary funding for the RCEU, considering the anticipated penalties collected. The Commissioner of Community Affairs is tasked with adopting rules and regulations to implement the bill within five months of its enactment. The bill is set to take effect on the first day of the fifth month following its enactment, with provisions for the commissioner to take necessary anticipatory actions.