NJ S3992

Amends P.L.2023, c.214 to modify capital reserve funding requirements for planned real estate development associations in New Jersey

Defines "adequate" reserve funding as maintaining a balance that will not fall below zero dollars over a 30-year funding plan period

Allows existing associations to fund capital reserves at either 100% or 85% of the recommended funding plan; the 85% option requires notifying unit owners of anticipated special assessments or loans and providing disclosure to buyers

Limits the 85% reduced funding option to no more than five fiscal years following the effective date of the amendment

Requires associations formed after the original law's effective date to fully fund capital reserves according to their reserve study, without the 85% alternative option