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Bill > A2554
NJ A2554
NJ A2554Clarifies DCA's authority to ensure planned real estate development builders comply with disclosure requirements.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 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 builders of planned real estate developments. It also increases the penalties for violations of the act, allowing the commissioner to levy fines of up to $50,000 per violation. The bill aims to ensure that builders comply with the disclosure requirements for planned real estate developments.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly Housing Committee (on 01/09/2024)
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/A2554 |
| BillText | https://pub.njleg.gov/Bills/2024/A3000/2554_I1.HTM |
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