Requires installation of emergency power supply systems to certain common areas of new planned real estate developments; provides related tax incentives.

S 503 requires new planned real estate developments in New Jersey to install emergency power systems in common areas like clubhouses or community rooms, ensuring these spaces can function as shelters during extended power outages. The systems must meet National Fire Protection Association standards and include public charging stations for residents' electronic devices. To support adoption, the bill allows developers to deduct up to $10,000 of the system's cost as an annual expense (not a capital cost) and claim a rebate for sales tax paid on the equipment. This applies to all new developments requiring registration after the bill's effective date.