NJ S3348

Establishes the Commission on Shared Ownership Communities, a 12-member body within the Department of Law and Public Safety to oversee homeowners' associations, condominium associations, and cooperative housing corporations in New Jersey.

Requires the commission to adopt governance standards promoting fair and democratic practices, provide educational materials, and coordinate alternative dispute resolution services for disputes between owners, governing boards, and developers.

Mandates that associations must utilize internal dispute resolution procedures before parties can file complaints with the commission, and requires arbitration review before an association can file a lien for unpaid fines.

Applies to all shared ownership communities including condominiums, planned communities, and cooperative housing projects, and supersedes conflicting provisions in existing laws such as the Condominium Act and Planned Real Estate Development Full Disclosure Act.

Funds the commission through registration fees collected from developers of planned real estate developments, with commission members serving three-year terms and receiving no compensation beyond expense reimbursement up to $100 per occurrence.