NJ A3341

Consumers aged 60 or older and those with intellectual disabilities may cancel home improvement contracts within five business days of receiving the signed contract, compared to three business days for other consumers.

Consumers aged 60 or older and those with intellectual disabilities may cancel contracts for goods priced at $500 or more within three business days of entering the contract.

All refunds must be issued within 30 days of receiving cancellation notice, and any associated credit or loan agreements must be cancelled without penalty to the consumer.

Consumers may waive cancellation rights for emergency restoration services (water extraction, fire damage cleanup, mold containment) by signing an emergency authorization form with a cost estimate.

The bill does not apply to real estate sales or brokerage service contracts and takes effect on the first day of the fourth month following enactment.