Shortens timeframe for municipality to rehabilitate certain abandoned property.

This bill shortens the timeframe for declaring certain abandoned properties in New Jersey from six months to three months of non-occupancy. It directly affects municipalities (which can now declare abandonment faster) and property owners (who face a shorter window before rehabilitation efforts may be required). Key provisions include reducing the required period of non-occupancy, updating procedures for tax certificate holders to pursue foreclosure, and requiring municipalities to provide notice before seeking possession of such properties. The law aims to accelerate rehabilitation of blighted properties by streamlining the process for municipalities to take control and develop rehabilitation plans. The bill is currently pending before the Assembly Housing Committee.