This bill mandates that sellers of residential properties disclose the existence of any landfill located within a one-half mile radius of the property being sold. At the time of entering into a sales contract, the seller must provide a written statement to the purchaser regarding the landfill's location. If the purchaser receives this disclosure, they have the right to cancel the contract within five business days without incurring any penalties or fees.

Violations of this disclosure requirement will result in a fine of either $5,000 or 10 percent of the purchase price, whichever is greater, and this fine will be enforced by the Commissioner of Community Affairs or the Attorney General. Additionally, the bill allows the purchaser to seek further penalties through legal action, including recovery of attorney fees and related costs. The Department of Community Affairs is tasked with developing rules and regulations to implement the bill's provisions, including maintaining a database of operational landfills.