This bill mandates that all multiple dwellings with 30 units or more located in urban municipalities (defined as those with a population of 50,000 or more) must be equipped with an automated external defibrillator (AED). The AED must be placed in an unlocked location, clearly marked with appropriate signage, and accessible to all residents and guests at all times. Additionally, landlords are required to inform tenants of the AED's location, and the devices must be regularly tested and maintained according to manufacturer guidelines. The bill also provides civil liability immunity for residents and employees who acquire and use the defibrillators.

Furthermore, the legislation establishes the Affordable Housing Defibrillator Fund within the Department of Community Affairs, which will provide grants to owners of inclusionary developments to help them comply with the AED requirements. The fund will be supported by appropriations and voluntary contributions, and the department will annually request funding from the Legislature to meet grant needs. The bill aims to enhance emergency response capabilities in residential settings, potentially increasing survival rates in cases of cardiac arrest. It is set to take effect seven months after enactment, with provisions for anticipatory actions by the Commissioner of Community Affairs.