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NJ A2995

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Erik Peterson

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Amends "The Planned Real Estate Development Full Disclosure Act" (P.L.1977, c.419) to explicitly include "builders" in the definition of "person" subject to the law's requirements
  • Defines "builder" as any individual, corporation, partnership, or other business organization engaged in the construction of a planned real estate development
  • Clarifies that builders who violate disclosure requirements face penalties ranging from $250 to $50,000 per violation
  • Implements a recommendation from the State Commission of Investigation's March 2005 report "The Good, the Bad and the Ugly: New-Home Construction in New Jersey"
  • Grants the Commissioner of Community Affairs explicit authority to enforce disclosure provisions against builders, not just developers

Legislative Description

Clarifies DCA's authority to ensure planned real estate development builders comply with disclosure requirements.

Housing

Last Action

Introduced, Referred to Assembly Housing Committee

1/13/2026

Committee Referrals

Housing1/13/2026

Full Bill Text

No bill text available