Bill
Bill > A2450
NJ A2450
NJ A2450Requires licensure of community management entity that contracts to conduct management services for planned real estate development association.
summary
Introduced
01/09/2024
01/09/2024
In Committee
12/09/2024
12/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
Requires licensure of community management entity that contracts to conduct management services for planned real estate development association.
AI Summary
This bill requires the licensure of community management entities that contract to provide management services for planned real estate development associations. It defines "community management entity" and "management services," and directs the Commissioner of Community Affairs to establish a licensing system with experiential prerequisites. The bill prohibits entities from entering new contracts to serve as community management entities without first obtaining a license, and imposes penalties for violations. The regulations to implement this licensure requirement must be adopted within seven months of the bill's enactment.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (3)
Last Action
Reported and Referred to Assembly Appropriations Committee (on 12/09/2024)
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/2024/A2450 |
| Fiscal Note - Fiscal Estimate 3/10/25; as introduced | https://pub.njleg.gov/Bills/2024/A2500/2450_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A2500/2450_I2.HTM |
| Analysis - Technical Review Of Prefiled Bill | https://pub.njleg.gov/Bills/2024/A2500/2450_T1.PDF |
| Analysis - Statement AHO 12/9/24 | https://pub.njleg.gov/Bills/2024/A2500/2450_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A2500/2450_I1.HTM |
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