Requires owners of certain multiple dwellings of three or more floors to provide priority status to senior citizens and disabled residents moving to lower floors.

This bill requires owners of multi-story apartment buildings in New Jersey to give priority to senior citizens and people with mobility disabilities when those residents want to move to a lower floor with the same number of bedrooms. The law grants these qualifying residents the right of first refusal over outside applicants and other current tenants seeking lower-floor units, while preserving existing affordability rules and income restrictions. Building owners must also post a visible sign informing residents of this priority status. The measure applies to non-cooperative apartment buildings with three or more floors and takes effect immediately upon passage.