New Jersey Senate Bill S503

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

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

Impact

The legislation will compel developers of new common interest communities to equip shared facilities with reliable electric systems that can operate independently during outages. This change is not retroactive, meaning existing communities are encouraged but not mandated to install similar systems. Additionally, the bill introduces financial incentives, such as tax deductions of up to $10,000 for developers implementing these power systems, thereby potentially lowering the overall costs associated with these installations.

Summary

Senate Bill 503 requires new planned real estate developments to install emergency power supply systems in common areas, specifically in clubhouses and community rooms. This requirement is aimed at addressing challenges faced during significant power outages like those experienced during Hurricane Sandy. The bill intends to ensure that these spaces can serve as dependable shelters during emergencies, enhancing community resilience against power disruption.

Contention

Some concerns have arisen regarding the mandate imposed on developers, with critics arguing that it may increase costs associated with new housing developments, potentially exacerbating housing shortages. Supporters of the bill argue that the long-term benefits of having reliable emergency shelters justify these costs, as they enhance the safety and preparedness of communities in the face of extreme weather events.