Requires developer under "The Planned Real Estate Full Disclosure Act" to post bond with DCA and provides for more accountability to owners in common interest community.

This bill requires developers of planned real estate communities to post a bond with New Jersey's Department of Community Affairs (DCA) to ensure completion of common elements like roads and amenities. It mandates that developer-controlled associations maintain adequate reserves for major repairs (e.g., roof replacement, pavement resurfacing) and undergo annual audits during developer control. Upon transitioning control to homeowners, developers must provide engineering reports, proof of required approvals, and a full accounting of association finances. These provisions directly affect developers and homeowners' associations in planned communities, increasing accountability and financial transparency during development and transition.