Requires financial institution that has foreclosed on property to remove water service lines that contain lead.

This bill (NJ A3297) requires financial institutions that foreclose on properties to remove all lead water service lines from those properties, unless the lines are owned and maintained by the utility company. It applies immediately to all foreclosures occurring after the bill's enactment date. The requirement covers all lead pipes on the property that are not the utility's responsibility, ensuring they are removed before the property is sold or transferred. This directly affects banks and lenders handling foreclosed properties in New Jersey.