Bill > A318

Introduced Session

This bill amends a recent enactment, P.L.2023, c.214, (C.52:27D-132.2 et al.), which imposed various requirements upon associations responsible for the management and maintenance of the common elements and facilities of residential buildings within planned real estate developments. The bill also limits applicability of the capital reserve study and funding requirements of P.L.2023, c.214, (C.52:27D-132.2 et al.) to residential condominium and cooperative buildings that are three stories or more in height. The bill further modifies current law to enable impacted associations to increase the amounts required to hold in necessary reserve funds over a longer period of time. The Legislature enacted P.L.2023, c.214 for the purpose of enhancing the structural integrity of the primary load bearing systems of residential buildings. However, language contained in the underlying enactment may be interpreted as having imposed requirements to protect against failures of common areas and capital improvements even though they do not impact a building's structural integrity. The recent enactment may also be interpreted as imposing requirements on non-residential buildings as well as residential ones. This bill modifies language from the recent enactment to address these issues and to limit applicability of P.L.2023, c.214 to residential buildings that are three stories or more in height. Additionally, the bill would double the timeframe imposed under current law within which an impacted association is required to establish and maintain a reserve fund in an adequate amount.

AI Summary

Committee Categories

Paul Kanitra (R)*,  Greg McGuckin (R)*,  Robert Clifton (R),  Dawn Fantasia (R),  Michael Inganamort (R),  Gregory Myhre (R),  Brian Rumpf (R), 

Introduced, Referred to Assembly Housing Committee (on 01/13/2026)

Official Document