Substitute Bill No. 5272 Summary

• Extends expiration dates for land use approvals (site plans, subdivisions, permits, special permits) granted on or before June 10, 2021, to a minimum of 14 years from approval date with maximum validity of 19 years, effective immediately upon passage.

• Authorizes zoning commissions and planning commissions to set earlier expiration dates for such approvals by affirmative vote if they hold a public hearing and find either incomplete/substandard work creating significant public hazard or no work performed in the previous five years.

• Increases maximum payout from the New Home Construction Guaranty Fund from $30,000 to $50,000 per claim for consumers with judgments or restitution orders against new home construction contractors or controlling participants, effective October 1, 2024.

• Reduces target balance for the New Home Construction Guaranty Fund from $700,000 to $650,000 and increases the annual excess deposit threshold to the consumer protection enforcement account from $300,000 to $400,000, effective July 1, 2024.

• Extends liability for fund payouts to controlling participants (individuals exercising day-to-day financial or operational control) in addition to contractors, and clarifies contractor ineligibility for new certificates until fund debts are repaid in full.