Commerce

This bill requires sellers of real estate in New Jersey to disclose on the property condition disclosure form whether a dam exists on the property, its hazard classification, recent inspection results, and any associated legal obligations. Sellers must answer specific questions about dams (including "unknown" as an option) and explain "yes" responses. Buyers will be directed to a Department of Environmental Protection website with updated dam safety information, including hazard classifications and ownership responsibilities. The disclosure requirements apply to all property sales occurring 90 days after implementing regulations are finalized.

New Jersey's S 2141 bans businesses from owning, operating, or selling cryptocurrency ATMs within the state. The bill defines a cryptocurrency ATM as a physical kiosk that allows users to buy, sell, or exchange digital currency using cash, debit, or credit cards. Violations would result in fines up to $20,000 per offense, with enforcement under the state's consumer fraud laws. This action responds to Federal Trade Commission data showing crypto ATM scams caused over $65 million in fraud losses in the first half of 2024, disproportionately affecting older adults.

This bill creates a three-year pilot program called Jersey Protein Pro to train New Jersey residents for jobs in the meat processing industry, aiming to solve local labor shortages that currently force farmers to ship livestock out of state. The Department of Labor and Workforce Development will administer the program by awarding grants to county colleges and vocational schools to offer short-term courses in meat cutting, food safety, sanitation, and plant maintenance. Participating schools can use the $3 million appropriation to develop curricula and provide tuition assistance to students who agree to stay employed in the state for at least two years after finishing their training. The bill also requires regular reporting on how the funds are used and includes a final evaluation to determine if the program should be made permanent.

This bill requires health insurance plans in New Jersey with more than 50 members to cover medically necessary infertility treatments, including assisted reproductive technology, for individuals and couples. The law specifically mandates coverage for procedures used to prevent the transmission of severely disabling or life-threatening monogenic disorders to offspring, alongside other standard infertility services like IVF and genetic testing. While the bill sets specific guidelines for coverage limits and medical necessity, it includes an exemption allowing religious employers to exclude certain reproductive technologies if they conflict with the employer's religious beliefs.

This New Jersey bill requires financial institutions to take specific actions when they suspect financial exploitation involving senior customers or vulnerable adults. It mandates that banks and credit unions delay transactions if a qualified employee reasonably believes a vulnerable or senior customer is being exploited and must notify account holders within two business days. Additionally, the law allows these institutions to share account records with county adult protective services providers or law enforcement agencies when illegal activity is suspected. The legislation defines "senior customers" as individuals aged 60 or older and "vulnerable customers" as adults with physical or mental conditions that limit their decision-making capacity.