NJ A3472

Creates a 13-member "Common Interest Community Task Force" to study laws governing condominiums, cooperatives, and homeowners' associations regarding their functions, responsibilities, assessment collection practices, election practices, financial decisions, and relationships with community association managers

Task force membership includes 2 state senators, 2 assembly members, the Commissioner of Community Affairs (or designee), 1 appointee from the Chief Justice of the Supreme Court, and 7 public members appointed by the Governor representing various stakeholder groups

Public members must include representatives of community association managers, builders of planned real estate developments, condominium associations, cooperative associations, homeowners' associations, and community members with general knowledge of common interest communities

Task force must hold its first meeting and appoint a chairperson within 60 days of enactment, then submit findings and legislative recommendations to the Governor and Legislature by the first day of the 16th month following organization

Members serve without compensation but may receive reimbursement for travel and miscellaneous expenses, with the Department of Community Affairs providing professional and clerical staff support