S 1659 — Requires construction project applicants to disclose project financing.

S1659 1R [First Reprint] SENATE, No.

  CURRENT VERSION OF TEXT      IntroducedAs Pendingreported Technicalby Reviewthe bySenate LegislativeCommunity Counsel.and Urban Affairs Committee on May 11, 2026, with amendments.

or       (c)  an individual dwelling unit.        c.  An application for a construction permit, submitted pursuant to section 12 of P.L.1975, c.217 (C.52:27D-130), shall contain a general description of the proposed work, its location, the use and occupancy of all parts of the building or structure, and such additional information as may be required by the construction official.        d.  An application for a construction permit shall disclose information sufficient to identify the anticipated amounts and sources of funding of the proposed construction project consistent with rules and regulations adopted pursuant to this section.  Prior to issuance of a certificate of occupancy pursuant to section 15 of P.L.1975, c.217 (C.52:27D-133), the enforcing agency shall require an applicant to either:

or disclose updated, accurate information identifying the amounts and sources of funding of the construction project.project.  1The applicant shall certify, under penalty of perjury, that any disclosure provided pursuant to this subsection is true and accurate at the time of submission of an application for construction or a certificate of occupancy.  False or missing information included in a disclosure provided pursuant to this subsection shall be the sole responsibility of the applicant.1       e.  The Commissioner of Community Affairs, pursuant to the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.), and within 180 days following the date of enactment of this section, shall adopt rules and regulations concerning an applicant’s identification and disclosure of the funders, investors or financiers of a proposed construction project, in order to effectuate the provisions of this section.

      e.  The Commissioner of Community Affairs, pursuant to the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.), and within 180 days following the date of enactment of this section, shall adopt rules and regulations concerning an applicant’s identification and disclosure of the funders, investors or financiers of a proposed construction project, in order to effectuate the provisions of this section.

    STATEMENT        This bill requires an application for a construction permit to disclose information sufficient to identify the anticipated amounts and sources of funding of the proposed construction project.  Additionally, the bill directs construction code enforcing agencies, as a condition of issuance of a certificate of occupancy, to require a construction permit applicant to either:

certify that previously submitted funding information is still accurate;

or to disclose updated, accurate construction project funding information.

     The requirements of the bill do not apply to:

(1) a single-family home;

(2) renovations or repairs of dwelling units, as defined in the bill;

or (3) alterations or reconstruction of certain structures and buildings, including the alterations or reconstruction of an individual dwelling unit.

     The bill requires the Commissioner of Community Affairs to adopt rules and regulations to effectuate the provisions of the bill.