This bill amends Section 35 of P.L.2008, c.46 (C.40:55D-8.4) to extend the deadline for municipalities authorized to retain and expend non-residential development fees to provide a detailed accounting of all such fees collected and expended. Specifically, municipalities will have 180 days following the enactment of P.L.2024, c.2 (C.52:27D-304.1 et al.) to submit this information to the Department of Community Affairs. This change aims to clarify and align the reporting requirements established by the previous legislation, ensuring that municipalities comply with the new accounting standards.

Additionally, the bill retroactively validates the provision of this detailed accounting if submitted within the specified timeframe. It emphasizes the importance of transparency and accountability in the management of non-residential development fees, while also establishing enforceability of penalties for municipalities that fail to meet the new reporting deadline. The bill is set to take effect immediately upon passage.

Statutes affected:
Introduced: 40:55D-8.4