A 2554 New Jersey General Assembly · 2024-2025 Regular Session

Clarifies DCA's authority to ensure planned real estate development builders comply with disclosure requirements.

This bill clarifies the New Jersey Department of Community Affairs' (DCA) authority to enforce disclosure requirements for builders of planned real estate developments. It defines key terms like "builder" and "planned real estate development" to make the law's scope clearer, ensuring developers must provide full disclosure to prospective buyers. The bill specifies penalties for violations, including fines of $250 to $50,000 per violation, and gives the DCA the power to levy these penalties after providing due process. This clarification implements a 2005 State Commission of Investigation recommendation about new-home construction practices and directly affects developers, builders, and the DCA.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Housing Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Erik Peterson
Erik Peterson
RRepublican
NJ
23