Requires training of planned real estate development association board members.

S4157

SENATE, No. 4157

STATE OF NEW JERSEY

222nd LEGISLATURE

�

INTRODUCED MAY 11, 2026

Sponsored by:

Senator� JOSEPH P. CRYAN

District 20 (Union)

SYNOPSIS

���� Requires training of planned real estate development
association board members.

CURRENT VERSION OF TEXT

���� As introduced.

��

An Act
requiring training for board members of associations of
planned real estate developments, and supplementing P.L.1993, c.30 (C.45:22A-43
et seq.).

����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:

���� 1.� a.� The Commissioner of
Community Affairs shall establish a program for the training of planned real
estate development association members who are elected to serve on the
executive boards of associations.� At least three hours of training shall be mandatory
on the part of a board member, which shall be completed no later than 180 days
following the beginning of the term of office of the member.� The program shall
provide information and guidance on all of the matters relevant and necessary
to most effectively enable a board member to perform the member�s duties, and
shall include good business practices, model record keeping procedures, legal
requirements for boards, the making of a budget and maintaining reserve
accounts, information on various State entities available to assist the board,
and any other information the commissioner deems relevant.� The commissioner
shall have the authority to remove a board member who does not complete the
training required pursuant to this section.� The requirements of this section
shall apply to the first term of office of an executive board member that
commences following the effective date of this section.

���� b.� The commissioner shall
adopt the regulations necessary to effectuate the provisions of this section
pursuant to the "Administrative Procedure Act," P.L.1968, c.410
(C.52:14B-1 et seq.) on or before the first day of the fifth month next following
enactment of P.L.��� , c.��� (C.������� ) (pending before the Legislature as
this bill).�

���� 2.� This act shall take effect
on the first day of the fifth month next following enactment.�

STATEMENT

���� This bill would require board
members of planned real estate development associations to engage in a course
of training.� Specifically, the bill would require the Commissioner of
Community Affairs to establish a program for the training of association members,
who are elected to serve on the executive boards of planned real estate
development associations.� A planned real estate development is a term defined
in the �The Planned Real Estate Development Full Disclosure Act,� P.L.1977,
c.419 (C.45:22A-21 et seq.) to encompass communities governed by homeowners�
associations, condominiums, and cooperative communities.�

���� The bill would require at
least three hours of training on the part of a board member, which would have
to be completed no later than 180 days following the beginning of the member�s
term of office.� The program would provide information and guidance on all of
the matters relevant and necessary to most effectively enable a board member to
perform the member�s duties, and would include good business practices, model
record keeping procedures, legal requirements for boards, the making of a
budget and maintaining reserve accounts, information on various State entities
available to assist the board.� The commissioner would have the authority to
remove a board member who does not complete the training required.� These
requirements would apply to the first term of office of an executive board
member that commences following the effective date of the bill.

���� The bill directs the
commissioner to adopt the regulations necessary to effectuate the requirements
of the bill on or before the first day of the fifth month next following
enactment.� The bill would take effect on the first day of the fifth month next
following enactment.