Establishes standards for expiration of rental housing affordability controls.

S 220 establishes rules for when rental affordability controls expire on restricted housing units in New Jersey. It requires landlords to notify tenants 120 days before expiration and mandates income verification (based on 80% of regional median income) 90-180 days prior to determine if rent increases are permitted. If tenants remain at or below the income threshold after expiration, landlords cannot raise rents above affordability levels until the tenant moves out; if income exceeds the threshold, landlords may charge market rate at the next lease renewal or 60 days later. The bill also requires leases to prominently display expiration dates and potential rent changes. This bill applies directly to landlords of affordable housing units and their qualifying tenants.