Imposes annual State tax on investment ownership of single family residences in this State by certain entities for purposes other than single family ownership, providing revenue for down payment assistance for family ownership.

S 4356 imposes an annual $20,000 tax on investment entities (like hedge funds, private equity firms, or real estate trusts) that own more than 20 single-family homes in New Jersey for investment purposes - excluding nonprofits, home builders, and federally subsidized housing. The tax applies to each home above the 20-home threshold (e.g., $20,000 for 21 homes), with revenue funding down payment assistance programs for families buying homes. Priority is given to families purchasing properties previously owned by these investment entities, and sellers must certify buyers don’t already own multiple homes to prevent market consolidation.