ASSEMBLY, No. 4522
STATE OF NEW JERSEY
220th LEGISLATURE
INTRODUCED SEPTEMBER 22, 2022
Sponsored by:
Assemblyman WILLIAM F. MOEN, JR.
District 5 (Camden and Gloucester)
Assemblywoman ANGELA V. MCKNIGHT
District 31 (Hudson)
Assemblywoman ANNETTE QUIJANO
District 20 (Union)
SYNOPSIS
Requires certain disclosures when single-family homes with solar panels installed are sold.
CURRENT VERSION OF TEXT
As reported by the Assembly Consumer Affairs Committee on May 8, 2023, with amendments.
An Act concerning the disclosure of information on solar panel installation and supplementing P.L.1995, c.360 (C.25:1-10 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. A 1seller’s property condition disclosure statement or1 contract, or a rider or addendum to a contract, for the sale of a single-family home with solar panels installed in any location on the home or property that is part of the contract shall include the name and contact information of the business that installed the solar panels purchased by the owner selling the single-family home.
b. (1) If solar panels installed on a single-family home or its property are leased, 1a seller’s property condition disclosure statement or1 a contract, or a rider or addendum to a contract, for the sale of the home shall contain clear and precise language regarding if the owner selling the single-family home is transferring the lease of the panels to a new residence or to the buyer of the single-family home contracted for sale.
(2) If a lease of solar panels is transferred to the buyer of the single-family home, the name and contact information of the business that installed the solar panels shall be included in the 1seller’s property condition disclosure statement or1 contract for sale, or a rider or addendum to the contract for sale.
2. Any owner of a single-family home who is a party to a contract for the sale of the home pursuant to section 1 of 1[this act] P.L. , c. (C. ) (pending before the Legislature as this bill)1 who misrepresents or makes false claims regarding the business that installed the solar panels purchased by the owner or leased by the owner 1, or who misrepresents that information in the seller’s property condition disclosure statement,1 who then transfers the lease to the buyer of the single-family home shall, in addition to any other penalty provided by law, be liable to a penalty of up to $1,000.
3. The New Jersey Real Estate Commission (“commission”) in the New Jersey Department of Banking and Insurance shall, in conjunction with the Clean Energy Program (“program”) in the New Jersey Board of Public Utilities, develop and undertake a public education program to inform consumers of this act. A component of the program shall include the posting on the Internet websites of the commission and the program information about the requirements of this act and related penalties for noncompliance.
4. This act shall take effect immediately and apply to single-family homes with solar panels installed on or after the date of enactment but shall remain inoperative until the commission posts on its Internet website the information required pursuant to section 3 of this act.