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NJ S3046
Bill
Status
Introduced
4/8/2024
Primary Sponsor
Owen Henry
Click for details
AI Summary
- Limits the expedited foreclosure process for vacant and abandoned residential properties to uncontested actions only under New Jersey law
- Requires any defense or objection to expedited foreclosure applications to include an affidavit stating the defense is not made solely to delay proceedings; defenses without this affidavit will not be considered except for good cause shown
- Allows common interest community boards to file motions compelling lenders to pay association fees when lenders fail to pursue available expedited foreclosure processes for vacant properties
- Permits community association boards to apply for court-appointed fiscal agents to manage abandoned units, with authority to license the property, collect payments, maintain insurance, and make repairs
- Fiscal agents must deposit collected payments and allocate them to management costs (10%), current maintenance fees, past-due fees, and eventually pro-rata mortgage debt payments once association debts are satisfied
Legislative Description
Provides corporation business and gross income tax credit for employment of persons who have experienced job loss due to automation.
Labor
Last Action
Introduced in the Senate, Referred to Senate Labor Committee
4/8/2024
Committee Referrals
Labor4/8/2024
Full Bill Text
No bill text available