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 now have 180 days following the enactment of P.L.2024, c.2 (C.52:27D-304.1) to submit this information to the Department of Community Affairs. This change aims to clarify and align the reporting requirements with the intent of the previous legislation, ensuring that municipalities comply with the new timeline for accountability.

Additionally, the bill retroactively validates any detailed accounting provided to the Department of Community Affairs within the specified timeframe, reinforcing the enforceability of penalties for noncompliance with the submission deadline. This legislative update is designed to enhance transparency and oversight regarding the use of non-residential development fees by municipalities, thereby promoting responsible fiscal management in local governance.

Statutes affected:
Introduced: 40:55D-8.4