Bill Text: NJ S3102 | 2018-2019 | Regular Session | Introduced
Bill Title: Requires municipalities to notify developers of expiration of developer's agreements.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2018-10-18 - Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee [S3102 Detail]
Download: New_Jersey-2018-S3102-Introduced.html
Sponsored by:
Senator ANTHONY R. BUCCO
District 25 (Morris and Somerset)
SYNOPSIS
Requires municipalities to notify developers of expiration of developer's agreements.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning developer's agreements and supplementing P.L.1975, c.291 (C.40:55D-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. A municipality shall provide a developer with written notice at least 60 days prior to the expiration of a developer's agreement, entered into in conjunction with a development approval granted pursuant to P.L.1975, c.291 (C.40:55D-1 et seq.). If written notice is not provided 60 days prior expiration, the developer shall be entitled to an extension of its rights and obligations under the agreement for 60 days following the date when written notice was provided.
2. This act shall take effect on the first day of the fourth month next following enactment.
STATEMENT
This bill requires municipalities to provide developers with 60 days' notice prior to the expiration of a developer's agreement, which was entered into pursuant to the "Municipal Land Use Law," P.L.1975, c.291 (C.40:55D-1 et seq.).
Under the bill, if written notice is not provided 60 days prior expiration, the developer will be entitled to an extension of its rights and obligations under the agreement for 60 days following the date when written notice was provided.
