Concerns structural integrity regulations for certain residential buildings.

This New Jersey bill requires regular structural inspections for certain residential condominiums and cooperatives to ensure building safety. Covered buildings must undergo an initial inspection within 15 years of receiving a certificate of occupancy (with special timelines for older buildings), followed by inspections every 10 years or after observable damage. The bill also mandates that condo and co-op associations conduct capital reserve studies to ensure adequate funding for maintenance and establishes procedures for funding necessary repairs through assessments or loans. These requirements apply to approximately 100,000 residential buildings in New Jersey that are classified as "covered buildings" under the bill's definition.