This bill amends R.S.40:49-5 to enhance penalties for corporate violations of housing codes. It allows courts to impose fines on corporations of up to three times the maximum fine established for violations of housing code ordinances. Additionally, if a corporation or its high managerial agent is convicted of such violations, the court may request the Attorney General to initiate proceedings to dissolve the corporation, forfeit its charter, or revoke its business certificate in New Jersey. The term "high managerial agent" is defined as an officer or agent of the corporation whose conduct is representative of the corporation's policy.

The bill aims to strengthen compliance with municipal housing codes by imposing stricter penalties on corporations, which currently cannot face imprisonment like individuals. The enhanced penalties are intended to serve as a deterrent for corporate non-compliance, similar to existing provisions in the criminal code that allow for severe penalties against corporations. The bill is designed to ensure that corporations adhere to housing regulations, thereby promoting better living conditions and accountability within the housing sector.