Modifies capital reserve funding requirements for planned real estate developments in certain circumstances.

This bill modifies New Jersey's requirements for homeowners' associations managing planned real estate developments (like condos and co-ops) regarding their capital reserve funds. It clarifies that "adequate" funding means reserves must not fall below zero dollars over a 30-year plan, and allows associations to create plans with a minimum zero balance (instead of requiring higher balances). For associations needing to fix inadequate reserves, it extends the timeline from 10 to 30 years when annual funding increases would exceed 10% of assessments, or uses the reserve study's predicted zero-balance date. Associations must now ensure reserve studies are reviewed by licensed professionals every five years.