NJ A5844

Amends P.L.2023, c.214 to require that 30-year capital reserve funding plans for planned real estate development associations allow the reserve fund balance to reach zero dollars during the projection period, while permitting additional plans with higher minimum balances or escalating contributions

Defines "adequate" reserve funding as a sum sufficient to ensure the association's reserve fund balance will not fall below zero dollars over the 30-year funding plan projection

Allows existing associations (formed before January 8, 2024) to fund capital reserves at either 100% or 85% of the recommended funding plan; those choosing 85% funding must notify unit owners of anticipated special assessments or loans and provide estimated amounts and timing

Requires sellers in associations using the 85% funding option to disclose this information to prospective buyers before executing a purchase contract

Limits the 85% reduced funding option to five fiscal years after the bill's effective date, and requires associations formed after January 8, 2024 to fund reserves at 100% of their funding plan