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, sellers must provide a written statement to the purchaser detailing 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, purchasers may seek further penalties through legal action, allowing them to recover the same fine amount, along with reasonable attorneys' fees and other related costs. The bill also directs the Department of Community Affairs to work with relevant agencies to establish rules and regulations to implement these provisions effectively.