Requires training of planned real estate development association board members.

This bill requires board members of planned real estate development associations, such as homeowners' associations and condominiums, to complete mandatory training. The Commissioner of Community Affairs must establish a program that provides at least three hours of instruction on topics like legal requirements, budgeting, and record-keeping, which new board members must finish within 180 days of starting their term. The legislation grants the commissioner the authority to remove a board member who fails to complete this required training. These rules will apply only to the first term of office for board members whose terms begin after the bill takes effect.