Authorizes residential tenant action for alleged unconscionable rent increase; appropriates $2 million.

This bill establishes a process for New Jersey residential tenants to challenge rent increases they believe are "unconscionable" (excessively high). Landlords must provide tenants with a detailed written rationale for rent hikes within 10 days of a tenant's written request, including specific data on Consumer Price Index changes, property expenses, profitability, market comparisons, and property condition. Tenants can then negotiate a lower rent or, if unresolved before the new lease term begins, file a court case where the landlord bears the burden of proving the increase is reasonable. The law directly affects tenants receiving rent increase notices and landlords managing residential properties in New Jersey.