Expands DCA oversight over common interest communities; establishes trust fund, advisory council, and ombudsman office.

This bill expands oversight by New Jersey's Department of Community Affairs (DCA) over common interest communities - including condos, co-ops, and similar developments - directly affecting homeowners in these communities. It establishes a trust fund for homeowners' association finances, an advisory council, and an ombudsman office to handle complaints and disputes. Key provisions give the DCA authority to review association records, oversee fair elections, resolve conflicts between homeowners and associations, and impose sanctions for violations. The DCA will also manage dispute resolution processes and ensure transparency through required notices to homeowners.