Modifies capital reserve funding requirements for certain planned real estate developments.

This bill modifies New Jersey's requirements for condo and cooperative associations' capital reserve funds. It defines "adequate" funding as reserves sufficient to avoid falling below zero in a 30-year plan, and requires associations (not building owners) to conduct reserve studies every five years. Associations may fund reserves at 85% of recommended levels for up to five years, but must disclose the projected special assessment amount to unit owners and new buyers. The bill removes previous restrictions on special assessments and mandates clear notice about reduced funding. It applies to all associations of planned real estate developments with common interest communities.