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Bill > A3407
NJ A3407
NJ A3407Clarifies DCA's authority to ensure planned real estate development builders comply with disclosure requirements.
summary
Introduced
03/07/2022
03/07/2022
In Committee
03/07/2022
03/07/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill implements one of the recommendations of the State Commission of Investigation in its report of March, 2005 entitled "The Good, the Bad and the Ugly: New-Home Construction in New Jersey." Specifically, this bill clarifies that the Commissioner of Community Affairs has authority to enforce the provisions of "The Planned Real Estate Development Full Disclosure Act" against planned real estate development builders.
AI Summary
This bill clarifies that the Commissioner of Community Affairs has the authority to enforce the provisions of the Planned Real Estate Development Full Disclosure Act against planned real estate development builders. It increases the maximum fine for violations of the Act from $50,000 to $50,000 per violation and allows the Commissioner to levy and collect these penalties through a summary proceeding. The bill also adds a definition of "builder" to the Act, which includes any individual, corporation, partnership, or other business organization engaged in the construction of a planned real estate development.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly Housing Committee (on 03/07/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A3407 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A3500/3407_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A3500/3407_I1.PDF |
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